Final answer:
The unit price per ounce Prayut pays for the peanuts is $0.075.
Step-by-step explanation:
To calculate the unit price per ounce, we need to divide the total price of the peanuts by the total number of ounces. Prayut buys a 1-pound (16 oz) bag of peanuts for $1.20. So, the unit price per ounce is $1.20 divided by 16, which equals $0.075 per ounce.