Intro to Mathematical Economics
Matrix multiplication is an operation that takes two matrices and produces a third matrix by combining the rows of the first matrix with the columns of the second. This operation is fundamental in various mathematical contexts, such as solving systems of equations, representing linear transformations, and computing economic models. The rules governing matrix multiplication are distinct from regular multiplication, as the number of columns in the first matrix must equal the number of rows in the second matrix for the multiplication to be defined.
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