Final answer:
Profit maximization in long-run labor demand is achieved by hiring workers up to the point where the market wage equals the marginal revenue product. This helps firms maximize their output while minimizing costs.
Step-by-step explanation:
In the context of long-run labor demand, profit maximization relates to cost minimization through the hiring of workers up to the point where the market wage equals the marginal revenue product. Firms will hire labor up to the point where the wage they have to pay equals the value of the additional output produced by each additional worker hired. This ensures that the firm is getting the maximum benefit from the labor it hires while minimizing costs.