Unit Price

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What is the definition of unit price?

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Unit price is the cost per single unit of a product, calculated by dividing the total price by the number of units.

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How do you calculate the unit price from a total cost and quantity?

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To calculate the unit price, divide the total cost by the quantity of items. For example, if 4 chocolate bars cost $2.00, the unit price is $2.00 / 4 = $0.50 per bar.

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What is a proportion in mathematics?

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A proportion is an equation that states that two ratios are equal. For example, if a/b = c/d, then a, b, c, and d are in proportion.

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How can you solve a proportion?

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To solve a proportion, cross-multiply the terms and then solve for the unknown variable. For example, if a/b = c/d, then ad = bc.

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What is the formula to find the hourly wage?

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The hourly wage can be calculated by dividing the total earnings by the total hours worked. For example, if Ellie earned $45 for 6 hours, her hourly wage is $45 / 6 = $7.50.

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What does the term 'ratio' mean?

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A ratio is a comparison of two quantities, showing how many times one value contains or is contained within the other.

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How do you express a ratio in simplest form?

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To express a ratio in simplest form, divide both terms of the ratio by their greatest common divisor (GCD). For example, the ratio 4:6 can be simplified to 2:3.

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What is the relationship between unit price and bulk buying?

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Unit price helps consumers compare the cost of items sold in different quantities, allowing them to determine if buying in bulk offers a better value.

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How can you determine if a price is a good deal using unit price?

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By comparing the unit prices of similar products, you can determine which product offers the best value for your money.

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What is the significance of understanding proportions in real-life applications?

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Understanding proportions is crucial for solving problems related to scaling, budgeting, and comparing quantities in everyday situations.