1. The problem is to simplify the expression with negative exponents: $m^{-2} n^{-4} p^{3}$. 2. Recall the rule for negative exponents: $a^{-b} = \frac{1}{a^{b}}$ where $a \neq 0$. 3. Apply this rule to each term with a negative exponent: $$m^{-2} = \frac{1}{m^{2}}, \quad n^{-4} = \frac{1}{n^{4}}$$ 4. Substitute these back into the expression: $$m^{-2} n^{-4} p^{3} = \frac{1}{m^{2}} \times \frac{1}{n^{4}} \times p^{3}$$ 5. Combine the fractions: $$= \frac{p^{3}}{m^{2} n^{4}}$$ 6. This is the simplified form with all negative exponents removed. Final answer: $$\boxed{\frac{p^{3}}{m^{2} n^{4}}}$$