1. **State the problem:** We need to find the fraction of sweaters that cost $50 or less from the given prices: 30, 40, 50, 60, 70, 80. 2. **Identify the relevant data:** The prices are 30, 40, 50, 60, 70, and 80. 3. **Count the total number of sweaters:** There are 6 sweaters in total. 4. **Count the number of sweaters costing $50 or less:** These are 30, 40, and 50, so 3 sweaters. 5. **Calculate the fraction:** The fraction is the number of sweaters costing $50 or less divided by the total number of sweaters. $$\text{Fraction} = \frac{3}{6}$$ 6. **Simplify the fraction:** $$\frac{3}{6} = \frac{1}{2}$$ **Final answer:** The fraction of sweaters costing $50 or less is $\frac{1}{2}$.