Question: Instructions: In this Unit, we have used matrix algebra to solve Systems of Simultaneous Equations (SSEs). Particularly, we have discussed and solved several examples of

Instructions: In this Unit, we have used matrix algebra to solve Systems of Simultaneous Equations (SSEs). Particularly, we have discussed and solved several examples of the Leontief's Input-Output Analysis. This model and SSEs are used to improve business decision-making following a quantitative and scientific approach. Mainstream Economics have provided the inspiration needed to develop this model and SSEs. Considering the previous statements, submit a response to this Discussion Forum. In it make sure to answer explicitly to the following:

What is needed to solve Systems of Simultaneous Equations (SSEs) using Matrix Algebra?

Identify and explain the basic idea behind the Leontief's Input-Output Analysis.

Remember to organize and present your ideas clearly.

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