Mention if the given statement is true or false:

It is possible for a seller to sell goods at a price lower than MRP.

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True

False

answer is A.

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Detailed Solution

Every seller has the right to sell the product at a lower price than the MRP. He may be doing so to get attention and to build long-term relationships with the customers. It is legal to sell goods at a price lower than the MRP, but none of the sellers has the right to sell goods at a price higher than the MRP printed on the product packet. A consumer or a group of consumers has the right to file a case against such a seller. Suppose two sellers are selling the same pen for MRP Rs. 10. One is selling it at Rs. 8, while the other is selling it at Rs. 10. A prudent consumer will always prefer to buy it at Rs. 8.

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