write a short note on MRP
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A ᴍᴀxɪᴍᴜᴍ ʀᴇᴛᴀɪʟ ᴘʀɪᴄᴇ (MRP) ɪꜱ ᴀ ᴍᴀɴᴜғᴀᴄᴛᴜʀᴇʀ ᴄᴀʟᴄᴜʟᴀᴛᴇᴅ ᴘʀɪᴄᴇ ᴛʜᴀᴛ ɪꜱ ᴛʜᴇ ʜɪɢʜᴇꜱᴛ ᴘʀɪᴄᴇ ᴛʜᴀᴛ ᴄᴀɴ ʙᴇ ᴄʜᴀʀɢᴇᴅ ғᴏʀ ᴀ ᴘʀᴏᴅᴜᴄᴛ ꜱᴏʟᴅ ɪɴ Iɴᴅɪᴀ ᴀɴᴅ Bᴀɴɢʟᴀᴅᴇꜱʜ.A ᴍᴀxɪᴍᴜᴍ ʀᴇᴛᴀɪʟ ᴘʀɪᴄᴇ (MRP) ɪꜱ ᴀ ᴍᴀɴᴜғᴀᴄᴛᴜʀᴇʀ ᴄᴀʟᴄᴜʟᴀᴛᴇᴅ ᴘʀɪᴄᴇ ᴛʜᴀᴛ ɪꜱ ᴛʜᴇ ʜɪɢʜᴇꜱᴛ ᴘʀɪᴄᴇ ᴛʜᴀᴛ ᴄᴀɴ ʙᴇ ᴄʜᴀʀɢᴇᴅ ғᴏʀ ᴀ ᴘʀᴏᴅᴜᴄᴛ ꜱᴏʟᴅ ɪɴ Iɴᴅɪᴀ ᴀɴᴅ Bᴀɴɢʟᴀᴅᴇꜱʜ. Iɴ Aᴘʀɪʟ 2015, ɪᴛ ᴡᴀꜱ ʀᴇᴘᴏʀᴛᴇᴅ ᴛʜᴀᴛ ᴍɪʟᴋ ᴠᴇɴᴅᴏʀꜱ ɪɴ Mᴜᴍʙᴀɪ ᴡᴇʀᴇ ᴛʜʀᴇᴀᴛᴇɴɪɴɢ ᴀ ʙᴏʏᴄᴏᴛᴛ ᴀғᴛᴇʀ ɪᴛ ᴡᴀꜱ ᴅɪꜱᴄᴏᴠᴇʀᴇᴅ ᴛʜᴇʏ ʜᴀᴅ ʙᴇᴇɴ ᴄʜᴀʀɢɪɴɢ ᴀʙᴏᴠᴇ MRP ᴀɴᴅ ᴛʜᴇ Mᴀʜᴀʀᴀꜱʜᴛʀᴀ ꜱᴛᴀᴛᴇ ɢᴏᴠᴇʀɴᴍᴇɴᴛ ᴛʜʀᴇᴀᴛᴇɴᴇᴅ ᴛᴏ ɪɴᴛᴇʀᴠᴇɴᴇ.
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MRP full form is marginal revenue product OR maximum retail price .
this is used on every things which we buy from others. but only those things which government has allowed.
this means that the value of the item
should be limited at the certain amount.
the MRP will only measure the change of one variable at a time. You can calculate the MRP by completing a mathematical equation.
Determine the change in total revenue. For example, assume that total revenue increased by $100,000 after hiring the additional employees.Divide the change in total revenue from Step 2 by the change in variable input from Step 1. Continuing the same example, $100,000 / 5 = $20,000. This represents the marginal revenue product, or MRP.
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this is used on every things which we buy from others. but only those things which government has allowed.
this means that the value of the item
should be limited at the certain amount.
the MRP will only measure the change of one variable at a time. You can calculate the MRP by completing a mathematical equation.
Determine the change in total revenue. For example, assume that total revenue increased by $100,000 after hiring the additional employees.Divide the change in total revenue from Step 2 by the change in variable input from Step 1. Continuing the same example, $100,000 / 5 = $20,000. This represents the marginal revenue product, or MRP.
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