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What is the relationship between linear algebra and economics?
Many problems in economics can be modelled by a system of linear equations: equalities r inequalities. Such systems are best solved using matrix algebra.
When equations of linear systems have different slopes how many solutions does it have?
One solution
Do all linear quadratic systems have two solutions or one?
They will have 2 different solutions or 2 equal solutions and some times none depending on the value of the discriminant within the quadratic equation
In the graph of a linear inequality the shaded region above or below the line is called?
The shaded region above or below the line in the graph of a linear inequality is called the solution region. This region represents all the possible values that satisfy the inequality. Points within the shaded region are solutions to the inequality, while points outside the shaded region are not solutions.
How many solutions does linear equation in two variable have?
A single linear equation in two variables has infinitely many solutions. Two linear equations in two variables will usually have a single solution - but it is also possible that they have no solution, or infinitely many solutions.
