Final answer:
The cost per pound can be determined by dividing the price by the weight for each available package. For a 2-pound package, we can estimate the cost by looking at the prices of other packages and considering market factors such as demand and supply. Prices in a market economy are influenced by these and other factors, not directly provided in this scenario.
Step-by-step explanation:
To answer the student's question regarding the cost of a 2-pound package of oranges, we need to look at the given prices of the other bags. The store sells a 3-pound bag for four dollars and an 8-pound bag for nine dollars. To find the cost per pound, we divide the price by the weight of the bag. For example, for the 3-pound bag, we divide 4 dollars by 3 pounds, which equals approximately $1.33 per pound. Similarly, for the 8-pound bag, we divide 9 dollars by 8 pounds, which equals approximately $1.13 per pound.
However, when dealing with a 2-pound package, this exact price per pound isn't directly given to us. We do know that the first 3 ounces of a package in a related scenario cost $1.95 and that each additional ounce costs $0.17. If we were to calculate the cost of a 2-pound package using this information, we would convert the weight to ounces (since there are 16 ounces in 1 pound, 2 pounds would be 32 ounces), and then calculate the cost using the given per-ounce prices.
Considering the prices of the given 3-pound and 8-pound bags, it'd be reasonable to assume that a 2-pound bag would cost around two times the per-pound cost of the 3-pound bag or slightly more, given that larger quantities often come at a discounted rate per pound.
In a market economy, prices are set based on demand and supply. Factors like cost of production, consumer purchasing habits, and availability of the product all play a role in determining the price you see at the store.