The first position to the right of the decimal point measures tenths, the second position measures hundredths and the third position measures thousandths.
1 thousandth is therefore 0.001
50 thousandths is 0.050
Note : 50 thousandths is equivalent to 5 hundredths so the decimal number could then be written as 0.50. In terms of value they are the same. In terms of what the number tells you, they are obviously different.
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