The given ratio is:
[tex]\frac{\text{ \$1.99}}{16oz}[/tex]To find the unit cost per ounce, we can use proportions as follows:
[tex]\frac{\text{ \$1.99}}{16oz}=\frac{x}{1oz}[/tex]Now, solve for x:
[tex]\begin{gathered} x=\frac{1oz\cdot\text{ \$1.99}}{16oz} \\ x=0.12 \end{gathered}[/tex]The cost per ounce (unit cost) is then $0.12/oz
