1 1. One-Period Model 10 Suppose that Cookie Monster's pro- duction function is given by ZF (K, Nd) = z√√KNd, with z = 16 and K = 16. Suppose also that w = 1. Write his profit maximization problem, find op- timal labor demand Nd* and compute the maxi- mized profit π*. 2. ★ 10 Suppose that Cookie Monster's utility function is given by u(C, 1) C+4√√1+2. = Given w and л* found in item 1, h = 16 and G T = 2, write his utility maximization problem and find his optimal consumption bundle. 3. ★ 4. 2 Write the production possibility fron- tier as a function of 1, i.e., write C = some function of 1. 10 Would the labor market clear with the labor demand and supply found in items 1 and 2? If not, is labor overpriced or underpriced? In which direction does the labor market push w?