RULJIIUII .I In Australia the 'Big Four' banks (Commonwealth Bank, NAB. ANZ Bank and Westpac) dominate Australia's banking sector. Abank's decisions to maintain, raise or cut interest rates are all influenced by the actions of the other banks. Answer the following questions: a. In this type of banking market. is the Commonwealth Bank able to maximise prots using the same rule for a perfectly competitive market where marginal benet = equals the marginal cost?| '. Type Y for Yes or N for No. b. NAB and Westpac announce that they will be maintaining their interest rates but the Commonwealth Bank and ANZ are still undecided. The payoff matrix (with payoffs represented in millions of dollars, Commonwealth Bank being the left player and ANZ being the player on the top row) is shown below. What decision should ANZ make? | '. Type C for Cut or M for Maintain. Maintain Cut Maintain 125,100 65, 160 Cut 175,50 70, 60 c. Does this game satisfy the criteria for a Prisoner's Dilemma? ' |. Type Y for Yes or N for No. d. Is there the potential for consumers and borrowers to benefit from this outcome? | '. Type Y for Yes or N for N0