Why is protection required in the market place?

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Answer

Consumer Protection Act was enacted because of the following reasons:
(i) Many unfair trade practices were being indulged by the sellers. And there was no legal protection to the consumers.
(ii) Consumers, in general are innocent and ignorant about the ingredients of the product sold to them. So it becomes the responsibility of the government to protect the right of the consumers.
(iii) In case of any dispute between the sellers and buyers, there must be someone to listen.

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The following table shows the demand schedule for 3 consumers in a market.

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