A firm’s long-run total cost curve is given by: C(q) = 40q − 10q2 + q3 . Over what range of output does this technology exhibit decreasing returns to scale?   Group of answer choices q>8 q<5 None of the above are correct. q>10 q>5

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Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.