Bridget's Widgets has hired you as a consultant to analyze its production process and assess if and how it could become more efficient. Bridget informs you that her firm's production process uses three inputs: factory space which she refers to as capital (K), labor (L), and metal alloy materials (M ). She believes the production technology obeys the following function: Q = 32K 1 2 L 1 2 M 1 2 where Q is the total quantity produced. The rental rate r for factory space is $10 per unit, the wage w that Bridget pays workers is also $10, and the price per unit of metal (which is fully consumed in the production process) is $2.50. (a) Before doing any math, write down your instinctual prediction about whether the returns to scale for this production process are decreasing, constant, or increasing (whether your instinct is correct or not will not contribute to your grade for this question). Now, show algebraically what the returns to scale are by multiplying all inputs by the factor . Did the result match your instinct? If so, why did you make that prediction? If not, what accounts for the actual returns to scale? (b) Write