Answer: $0.3 per lb per year.
Step-by-step explanation:
We know that the rate of change in price is given by :-
[tex]r=\frac{\text{Change in price}}{\text{Time}}[/tex]
Given: The price of apples went from $1.99 per lb to $3.19 per lb in four years.
Change in price =[tex]\$3.19-\$1.99=\$1.2[/tex]
Time = 4 years
Now, the rate of change of the price of apples is given by :-
[tex]r=\frac{1.2}{4}=0.3[/tex]
Hence, the rate of change of the price of apples= $0.3 per lb per year.
