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How does one evaluate the following product if the set S happens to be empty?

\begin{aligned} f(n)= n \prod_{x \in S} \left(1-\frac{1}{x}\right) \end{aligned}

Is the value simply n or is it undefined (or zero)??

Thanks.

Edit: It seems rather odd that this question has been rated off-topic for lacking context or other details. I would have thought it rather obvious that it was about how to evaluate the product when there is no x due to an empty set. I would have guessed undefined because one cannot assign a value to $(1-1/x)$. However, as shown by C.Falcon, the convention is $1$. There's no other context or missing details. Feel free to delete if it doesn't meet the relevant standards.

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An empty product is by convention equal to $1$ (the identity element for the multiplication), therefore whenever $S$ is empty, one has $f:n\mapsto n$.

C. Falcon
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    It's analogous to a sum indexed by an empty set being zero (the additive identity) by convention. +1 for you. – MPW Jun 27 '16 at 13:38