b) William consumes hamburgers (H) and Chips (C) and has a utility function U(H,T)=HCA. If the price of hamburgers (Ph) is set at K6 and the price of Chips (Pc) is K2. Assuming William has an income of K120: i. Find William's Utility maximising bundle? ii. What is the level of utility at the optimal consumption point? iii. Explain the impact and associated comparative statics of subsidies on the price of chips using an appropriate graph. c) Discuss under what circumstances the rationality axioms considered under the preference based approach may not hold