Question

The Phillie Phanatic (PP) always eats his ballpark franks in a special way; he uses a foot-long hot dog together with precisely half a bun, 1 ounce of mustard, and 2 ounces of pickle relish. His utility is a function only of these four items, and any extra amount of a single item without the other constituents is worthless.

a. What form does PP’s utility function for these four goods have?

b. How might we simplify matters by considering PP’s utility to be a function of only one good? What is that good?

Answer 1