The retail price of mobile phones (unsubsidized) has decreased from $4,000 in 1983 when Motorola commercialized the device to less than $99 today as the volume increased from zero to millions of units sold. This is due in large part to which type of pricing approach

Experience curve pricing

Explanation:

 The experience curve pricing is one of the type of approach that helps in explaining the various types pricing method in which the actual product price is lower as compared to the average cost.

In the experience curve pricing, the overall production cycle of the production and the services will increase due decrease in the cost or price in this experience pricing curve.

According to the given question, the experience curve pricing is one of the type of formal plan that helps in explaining the average cost method on the basis of the experience curve.

Therefore, Experience curve pricing is the correct answer.    

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