Noah B. owns a firm that produces 'hot tamale candy. Because this is a complicated process (in spite of which, the candy still tastes like crap), the firm needs a minimum number of workers, , to produce. That is, the firm produces no output unless the labor input is greater than or equal to some threshold value, . Otherwise, the firm produces output according to the typical production function, Y = 2F(KN). 1. Derive the production function for Noah B.'s firm. Graph 2. Determine the optimization point N* for the firm. Explain how N* depends on the real wage, w, and determine the value of real wage, , such that N* > 0 Noah B. owns a firm that produces 'hot tamale candy. Because this is a complicated process (in spite of which, the candy still tastes like crap), the firm needs a minimum number of workers, , to produce. That is, the firm produces no output unless the labor input is greater than or equal to some threshold value, . Otherwise, the firm produces output according to the typical production function, Y = 2F(KN). 1. Derive the production function for Noah B.'s firm. Graph 2. Determine the optimization point N* for the firm. Explain how N* depends on the real wage, w, and determine the value of real wage, , such that N* > 0