Question: a. explain why the demand for labour is called the derived demand. give one example in the real world to support your answer b. explain

a. explain why the demand for labour is called the derived demand. give one example in the real world to support your answer

b. explain the difference between the firm's labour demand curve and the aggregate(market) labour demand curve. explain the determinants of both demands

c. explain the construction of the firm's labour supply curve and the market labour supply curve. explain how demographic dynamics (birth,death and migration) affects the labour market equilibrium. (hint : use the analysis of income effect and substitution of individual labour supply curve with maximum time is 24 hours a day)

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