Unit price: $2 per hat. The total package costs $8 for 4 hats. Each hat costs $2 individually.
The unit price, also known as the cost per individual item, can be determined by dividing the total cost by the number of items in the package. In this scenario, a package of 4 fancy plastic hats costs $8. To find the cost per hat, divide the total cost by the number of hats:
Unit price per hat = Total cost of package / Number of hats in the package
Unit price per hat = $8 / 4 hats
Unit price per hat = $2
Therefore, each fancy plastic hat costs $2 individually. This indicates that the unit price of a hat is $2. This calculation allows us to understand the cost of a single hat when purchasing a package containing multiple hats. Therefore, the correct option among the provided choices is: "Each hat costs $2."