Multiply matrices by following rules: matrices can be multiplied if the number of columns in the first equals the number of rows in the second. The product is an m x p matrix if the first is m x n and the second is n x p. Square matrices can be multiplied by themselves to find powers; the identity matrix I has 1s on the main diagonal and 0s elsewhere. Businesses can use matrix multiplication to calculate total revenues, costs, and profits from sales data.