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just so they can measure it more accurately When I was little, I remember my parents acknowledging that the 9/10 cent was a marketing ploy to make it sound cheaper. Not every gas station used the 9/10. But everyone looked at the whole numbers and not the fractions. So someone who sold their gas for 9.9 cents could gain market share over a station selling at 10 cents.
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Why do all gas prices have nine tenths of a cent?
The extra "tenths" is a very old tradition that's never gone away. In 1935, a Reno Nevada newspaper wrote about "selling third grade gasoline at eight and nine-tenths cents a gallon."In those times, a penny had considerable value. To raise the price of gasoline from 8 to 9 cents would be more than a 12 percent hike. To compete, gas stations raised prices by tenths of a penny. Around this time, federal and state excise taxes were also introduced in increments of tenths of a cent, so it made sense to keep the decimal value.Perpetuated for Profit?The tradition stuck. The U.S. Energy Information Administration, 'prime suppliers' of 'motor gasoline' reported sales of 372,833.5 thousand barrels sold in February 2007. These gas sales collected US$ 141 million in nine-tenths-of-a-cent increments. With gasoline prices in the US$ 2.00 to US$ 4.00 range, the 9/10 no longer serves a constructive purpose, and occasionally measures have been introduced to abolish it. From 1980 to 1984, the state of Iowa experimented with even cents, but eventually returned to the 9/10 pricing.
How much can a book be sold for?
A book can be sold for a penny or a million dollars. It depends on the rarity, condition, how big or small it is as far as the pages go, etc. The average price for a book is $9.99-$19.99.
What was the name of Britain's first stamp- which sold for one penny?
The One Penny Black.
A legal maximum price at which a good can be sold is a price?
price ceiling: a legal maximum on the price at which a good can be sold.
If you have to buy 3.67m of baceboard and baceboard is sold by tenths of a meter?
.37
Is it rare to have a wheat penny half the thickness of a real penny?
yes i had one that sold for 400 dollars
What is price selling?
The price at which something is sold
Costs of goods sold is also called?
price at which goods are sold is called selling price
What are mushrooms for Pokemon Diamond pearl?
They can be sold at a high price to the pokemart. They can be sold at a high price to the pokemart.
Why is pottery sold at a low price?
Because of less use and demand the pottery is sold at low price
What is the difference between the selling price and sold price?
You could offer a customer a discount on selling price therefore the price they buy the goods for (sold price) would be less than the selling price
What is original price?
the price it was before it was on sale or celrace the price it sold for in 1895
