The noble law of the MRP

Yesterday we discussed the Indian concept of the Maximum Retail Price (MRP) in class. What sounds like a super boring lesson, is actually quite insightful. Our professor called it a law which had noble reasoning. There have been a couple of laws dating back as far as the Consumer Protection Act in 1986 securing this.

The MRP basically has to be printed on every packaged good (e.g. any kind of bottles, cookies, etc.) which basically helps the population (especially the illiterate one) to know what price they should be paying for a product. And – for some maybe surprising – I have not found many violations to this having stayed in India for more than one year.

If you want to do further readings on this topic, here are two pages to start with:

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