Problem 7. Find the elasticities of the functions given by the following formulas: (a) f(x) = 50x5 (b) f(x) = x¹/3 (c) f(x) = x³ +25 (d) f(x) =

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A: The average of 4 numbers: x1, x2, x3, x4 is calculated using the formula: Avg=x1+x2+x3+x44.

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