consider this
$$\frac{5}{5}=1\\\\
\frac{5^3}{5^3}=1\\\\
\mbox{but}\\\\
\frac{5^3}{5^3}=5^{3-3} = 5^0\\\\
\mbox{ therefore}\\\\
5^0=1$$
Re: why is 5 to the power of 0 one?
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In general, any real number raised to the "0" power is = 1
The only exception is 00.........this is known as an "indeterminate" form - we can't define what this might be!!!
(It also involves division by 0......that's a no-no!!)