True, Marginal Product Value is a calculation obtained by multiplying the marginal physical product by the average income or product price. Marginal Product Value (VMP) calculates the amount of a company's revenue contributed by one unit of productive output.
Marginal product or is a formula used to determine how a change in one factor of production changes overall production. The factors referred to can be in the form of labor, capital, land, machinery or other aspects that directly affect the production of merchandise.
Generally, when one of these elements is increased, production also increases. However, businesses need to measure those production increases against revenue and costs to ensure those additional costs add value.
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