The mayor of a town wishes to provide a new playground for children of the town. She collected four bids from prospective contractors. The bids include a cost (in thousand dollars) and a time to completion (in months). These are given in the following table.
Contractor
Cost
Time
A
200
36
B
250
24
C
350
20
D
300
30
The mayor aims to select a contractor with minimum cost and minimum time to completion. You can assume that these two attributes satisfy additive independence and the mayor is risk neutral with respect to each. Plot the utility of selecting each contractor as a function of the weight of cost. Identify the strategy regions.