retail price of a fax machine has decreased from more than $10,000 in the early 1970s to less than $100 today.This is due in large part to

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The decrease in retail price of a fax machine can be attributed to experience curve pricing. This concept suggests that as production experience increases, costs decrease, resulting in lower prices for consumers. As more companies entered the market and production processes improved, the cost of producing fax machines decreased dramatically, leading to their affordability for consumers today.

Retail Price of a Fax Machine Has Decreased from More