Question

what is the full form of MRP?​

Answer 1

Answer:

Please mark it as brainliest

Explanation:

maximum retail price is the full form of MRP

Answer 2

MRP is an abbreviated form of Maximum Retail Price which is the maximum price charged by the sellers or retailers to sell any product or service to the buyers.The concept of MRP is applicable in India and Bangladesh.

Explanation:

MRP is the maximum possible price that any seller or retailer can charge to sell any good or service to the buyers or consumers within the geographical territory of India and Bangladesh.The MRP for any product or service is usually determined by the manufacturer and any seller or retailer can legally charge any price lower than the MRP but is not generally permitted to charge higher than that.Every product or service in India has a stipulated MRP label and many sellers or retailers evidently charge less price than the MRP to attract more consumers to buy their products or services.However,there have been several reported instances across the country where the sellers have charged a market price higher than the MRP  and many of such cases have escalated to various consumer forums and consumer protection agencies.