1. **State the problem:** We have a stack of 500 pieces of paper that is 1.875 inches tall. We need to find the thickness of each individual piece of paper. 2. **Formula used:** The total thickness of the stack is the sum of the thicknesses of all individual pieces. If $t$ is the thickness of one piece, then: $$\text{Total thickness} = \text{number of pieces} \times t$$ 3. **Set up the equation:** $$1.875 = 500 \times t$$ 4. **Solve for $t$:** Divide both sides by 500: $$t = \frac{1.875}{500}$$ 5. **Show cancellation:** $$t = \frac{\cancel{1.875}}{\cancel{500}}$$ (Here, we just indicate division; no common factors to cancel numerically.) 6. **Calculate the value:** $$t = 0.00375$$ 7. **Interpretation:** Each piece of paper is 0.00375 inches thick. **Final answer:** The thickness of each piece of paper is $0.00375$ inches.