Matrices and determinants

Note Description

In many economic analysis, variables are assumed to be related by sets of linear equations. Matrix algebra provides a clear and concise notation for the formulation and solution of such problems, many of which would be complicated in conventional algebraic notation. The concept of determinant and is based on that of matrix. Hence we shall first explain a matrix. 9.2 Matrix: A set of mn numbers (real or complex), arranged in a rectangular formation (array or table) having m rows and n columns and enclosed by a square bracket [ ] is called mn matrix (read “m by n matrix”) .

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