Answer:
There is no difference between marginal revenue product (MRP) and marginal value product (MVP). The latter is another name for the former. The MRP or MVP is the revenue, which is marginal, created because one unit of resource is added. It is used to ensure that a resource is at its optimal level. Marginal revenue product (MRP), also known as the marginal value product, is the marginal revenue created due to an addition of one unit of resource.
