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A firm has a Leontief production function: Q = min{3K, 5L} If they want to produce 150 units of Q at the lowest cost, how

A firm has a Leontief production function:

Q = min{3K, 5L}

If they want to produce 150 units of Q at the lowest cost, how much labor should they hire?

A firm has a Leontief production function:

Q = min{3K, 5L}

If they want to produce 150 units of Q at the lowest cost, how much capital should they purchase?

A firm has a Leontief production function:

Q = min{3K, 5L}

True of False: This firm experiences constant returns to scale.

A firm has a Leontief production function:

Q = min{3K, 5L}

If the firm has currently hired 100 units of labor and has purchased 120 units of capital, how many units of output are they producing?

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