Use the input-output matrix and the consumer demand matrix to solve the matrix equation for the total output matrix . (Round your answers to three decimal places).
Answer
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Answer
is the solution to the matrix equation
Steps
Step 1 :Given the input-output matrix and the consumer demand matrix
Step 2 :We need to solve the matrix equation for the total output matrix , where is the identity matrix
Step 3 :First, calculate to get
Step 4 :Next, find the inverse of , denoted as , which is