An 8-pound bag of cement costs $12.73. What is the unit price, rounded to the nearest cent?

  $1.59 per lb

Step-by-step explanation:

What is a "unit price" depends on the unit of interest. Unit price tags on the shelf in a store are supposed to aid a shopper in determining the best value. In the situation described here. possible unit prices are ...

  cost per bag

  cost per pound

__

Obviously, the cost per bag is ...

  ($12.73)/(1 bag) = $12.73 per bag

The cost per pound will be ...

  ($12.73)/(8 lb) = $1.59125 /lb ≈ $1.59 per lb

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