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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.
What else can I help you with?
All Fresh vegetable market prices in Dubai?
potato prices in Dubai
What are the advantages of using prices to distribute economic products?
1. Prices in a competitive mart economy are neutral because they favor neither the producer nor the consumer. 2. Prices in a market economy are flexible. 3. Prices have no cost of administration. 4. Prices are something that we have known about all our lives. (All info was straight out of an eco. textbook)
What are some reasons why coordination of economic affairs through the price system may not work perfectly?
A. may be too few prices (that is, more markets than prices),B. prices may not contain sufficient informationC. prices may be "sticky."D. all of the aboveAnswer is D - All of the above
Wheat penny prices?
There are too many dates to give prices for them all. See the related links for an online price guide.
The average of all prices in the economy is called?
Price level.
How many tenths are between 0 and 1 Write two greater numbers that have the same number of tenths between them as 0 and 1 do?
Nine of them. All consecutive integers have nine tenths between them.
Why do gas stations charge nine tenths of a cent?
The only answer I know could be that a gas station company started doing it a long time ago to trick people and make more money. Eventually all companies had to comply to keep up.
Why is gas priced at 9 10ths?
I've always assumed that it was due to some weird federal tax. But the truth is, nobody knows for sure. Theories abound, but none are definitive. The Mail Tribune newspaper in Medford, Oregon, quotes Craig Randolph, an oil company's V.P. of retail operations. He says the nine-tenths of a cent is just a marketing gimmick that likely begun during the 1970 "gas wars." Over the years, it became the standard. This site on Arizona gas prices offers a different theory. It argues that the precision of nine-tenths gives motorists a "false sense of accuracy" over their purchase. It goes on to state that this method of pricing "requires that almost all purchases be rounded to the nearest whole cent," which benefits oil companies
Why is gas priced at .9?
I've always assumed that it was due to some weird federal tax. But the truth is, nobody knows for sure. Theories abound, but none are definitive. The Mail Tribune newspaper in Medford, Oregon, quotes Craig Randolph, an oil company's V.P. of retail operations. He says the nine-tenths of a cent is just a marketing gimmick that likely begun during the 1970 "gas wars." Over the years, it became the standard. This site on Arizona gas prices offers a different theory. It argues that the precision of nine-tenths gives motorists a "false sense of accuracy" over their purchase. It goes on to state that this method of pricing "requires that almost all purchases be rounded to the nearest whole cent," which benefits oil companies
Are more than nine-tenths of all chordates living today vertabrates?
Yes, most chordates are vertebrates.
What music video is about a guy stealing stuff to compete with a ninety-nine cent store?
Hang Them All by Tapes 'n' Tapes
How many tenths in 2.7?
27 tenths in all; 7 in the tenths' place.
How do you turn 0.9 into a decimal word form?
To turn 0.9 into a decimal word form, you would read it as "nine tenths." This is because the digit 9 is in the tenths place in the decimal representation. Decimal word form helps to express the numerical value in terms of place value and is commonly used in mathematical contexts.
What is nine tenths in decimal form?
.9
How many tenths in 1.9?
Well, darling, there are 19 tenths in 1.9. You see, the number after the decimal point tells you how many tenths there are. So in this case, 1.9 means one whole number and nine tenths. Math can be a piece of cake when you have a sassy assistant like me!
Five tenths to the negative sixth power?
you have to negative the five than the tenths and that all!
What is the decimals in tenths that are less than 2.42?
0.2, 0.1, 0.0, -0.1 -0.2 are all in tenths and are all smaller.
