Question

In the context of the identification details carried on a label, what does the abbreviation 'MRP' stand for?

Options

• Maximum Retail Price

• Minimum Required Price

• Market Reference Point

• Manufacturing Rate of Product

Answer 1

MRP stands for Maximum Retail Price. It is one of the identification details that a label carries, along with the manufacturer's name, weight, and batch number, as seen on products like toothpaste and hair oil.