Final answer:
The prefix 'milli' corresponds to a multiplier of 10⁻³, indicating one-thousandth of a unit in measurements such as length, volume, and time in the metric system.
Step-by-step explanation:
The correct multiplier for the prefix milli is 10⁻³, which means one-thousandth of a unit. In the metric system, milli- is commonly used in various measurements such as length (millimeters), volume (milliliters), and time (milliseconds). Each prefix in the metric system corresponds to a power of ten. For example, 'kilo-' represents one thousand units (10³), and 'mega-' represents one million units (10⁶). When using the prefix 'milli-', it implies a division by 1,000, hence 1 millimeter equals 1/1,000 of a meter.
The use of the prefix 'milli-' is essential for conveniently expressing measurements that are smaller than the basic unit, avoiding the complexity of dealing with too many zeroes. For example, the width of human hair or the duration of a quick event are better represented using millimeters and milliseconds respectively. To convert meter to millimeters, the equation would be 1,000 mm = 1 m. Similarly, a millisecond is one-thousandth of a second.