Question

Sam wanted to know how much the price of milk had changed over the last few decades. He found that the price of a gallon of milk was $0.80 in 1970 and in 1990 it was $1.20. What was the average rate of change in the price of a gallon of milk per year?

A) $0.02 per year
B) $0.04 per year
C) $0.06 per year
D) $0.08 per year

Answer 1

The average rate of change in the price of a gallon of milk per year is $0.02.

Step-by-step explanation:

To find the average rate of change in the price of a gallon of milk per year, we need to calculate the change in price over the years. In 1970, the price of milk was $0.80, and in 1990, it was $1.20. The change in price is $1.20 - $0.80 = $0.40. The number of years between 1970 and 1990 is 1990 - 1970 = 20 years.

To find the average rate of change, we divide the change in price by the number of years: $0.40 / 20 = $0.02.

Therefore, the average rate of change in the price of a gallon of milk per year is $0.02 per year. Option A) is the correct answer.