This clips includes a few different economics concepts rolled in to one. The overarching theme is that of consumer choice where Homer appears to experience diminishing returns while trying to eat a 16 pound steak. He’s competing against a previous eating contest winner, who dies at the end from eating too much steak.
In the middle of the clip, Marge asks Dr. Hibbert if that much steak is healthy and Dr. Hibbert exhibits a bit of the principle-agent problem where his interests now align with eating competitions because he owns a portion of the restaurant. The good doctor tells her not to worry because they have a new heimlich machine, which decreases their need to focus on choking hazards.