Answer: The price per ounce of the steak is $0.21.
Step-by-step explanation: To find the price per ounce, we need to convert pounds to ounces and then divide the total cost by the total number of ounces.
First, let's convert 8 pounds to ounces. Since 1 pound is equal to 16 ounces, we multiply 8 pounds by 16 ounces, giving us 128 ounces.
Next, we divide the total cost of $26.88 by the total number of ounces, which is 128. Using simple division, we find that the price per ounce is $0.21.