If the price of bell peppers is $2 per pound, how much would 1/2 of a pound of bell peppers cost?

Answer 1

if one pound cost $2

at the same rate 1/2 a pound costs $2/2 = $1

but generally you get a discount for volume or bulk purchases, so odds are the store will sell 1/2 a pound at more than $1, but less than $2, maybe $1.25 or so.