Consider three consumers i = 1,2,3 who purchased three goods j = 1, 2, 3, 4. Let qij denote the quantity of good j purchased by consumer i at price p;. Let's arrange these Pi 911 912 913 ¶14 P2 purchases in matrices q and p as such: q = |921 922 923 924 and p [931 932 933 934] P3 [P4] a. What is qp? b. How do we interpret each element of matrix qp?

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A: To Explain : How to multiply two matrices?

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Q: Illustrate Diagonal matrix?

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Matrices

‘Matrices’ is the plural form of the word matrix, and it is basically a spreadsheet in the form of a box. In mathematics, various functions can be carried out with matrices. Generally, a matrix comes in the shape of a square or rectangle. The elements are distributed horizontally in the form of rows, and vertically in the form of columns.