Short Answer
Simplify both sides of the equation as much as possible, and then solve. 
__________
Interpret data from tables and figures to make hiring decisions.
Understand the concept of diminishing marginal product and its implications for production.
Grasp how external market factors like the price of goods or technological advancements affect labor demand and supply.
Understand how migration affects labor supply curves in origin and destination countries.
Definitions:
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