Explain the meaning and significance of the fact that the demand for labor s a derived demand? Why do labor demand curves slope downward?

Explain the meaning and significance of the fact that the demand for labor s a derived demand? Why do labor demand curves slope downward?

Explain the meaning and significance of the fact that the demand for labor s a deriveddemand? Why do labor demand curves slope downward?Answer: In the labor market, the demand of labor is derived…