noun
MRP stands for Maximum Retail Price, which is the highest price that can be charged for a product or service as per government regulations.
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The manufacturer's suggested retail price (MRP) for the new product is $99.
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The MRP for that item is $50, but I bet we can find it cheaper online.
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I found this cool gadget for half the MRP price!
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The MRP of success is hard work and determination.