Which of the following statements accurately describe the conditions under which a firm maximizes profits in labor markets? Select all that apply.

A firm maximizes profits in labor markets when it hires workers until the cost of hiring an additional worker equals the additional revenue that worker brings in. This means the firm should keep hiring more workers as long as the extra money made from their work is greater than or equal to what the firm has to pay them. For example, if a company pays a worker $20 an hour but that worker generates $25 in sales each hour, the firm is maximizing profits by hiring that worker. However, if the cost of hiring more workers exceeds the revenue they generate, the firm should stop hiring. Therefore, understanding the balance between wages and productivity is crucial for profit maximization.