question archive What does a value of zero for the elasticity of supply of some product imply?

What does a value of zero for the elasticity of supply of some product imply?

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What does a value of zero for the elasticity of supply of some product imply?

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If a product has an elasticity of its supply equal to zero, it means that the level of the product supplied in the market by the manufacturer is not dependent on the price charged to the customers. It usually happens when the production of a product involves less labor.

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