How the plasma in the atmosphere is heated during a solar flare remains inconclusive. Nonthermal electron beams are usually considered as an essential heating source, yet Alfvén waves have also been proposed as a promising heating mechanism. Based on radiative hydrodynamic simulations, we explored the performance of different heating mechanisms, including nonthermal electron beams, Alfvén waves, and their joint effects. We studied the parameter space of Alfvén waves, focusing on the heating depth and the continuum emissions at 3600 and 6170 Å. We compared the atmospheric structures, continuum enhancements, and line profiles of hydrogen Lyα and Hα in beam-heated, wave-heated, and jointly heated flare models. We find that the heating location of waves is strongly dependent on the wavenumber and frequency. The Alfvén wave can penetrate into the lower chromosphere and even the photosphere, causing a prominent continuum emission. There are different atmospheric responses in the Alfvén-wave and electron-beam heating cases due to their different energy-damping patterns. However, there seem to be no unique features in the Lyα and Hα line profiles that can be used to distinguish the wave-heated models. In the jointly heated cases, the heating effect of waves and that of energetic electron beams can affect each other during the evolution of flares. Our simulations provide some references for interpreting the observed line profiles as well as the continuum emissions in solar white-light flares.