1 Strong Induction Recall the principle of strong induction: Principle of Strong Induction. Let(n) be a predicate. If ·P() is true,and for all n, P(O)A P(1)...A P(n) implies P(n+1), then P() is true for all n E N. As an example, let's derive the fundamental theorem of arithmetic
Production — Games 1 Monopolistic Competition Monopolistic competition arises when there are a large number of price-setting firms in an industry with free entry. Suppose there are n firms. In the short run, each firm faces an nth of the market demand curve
1 Induction Recall the principle of induction: Principle of Induction. Let P(n) be a predicate. If ·P(0) is true,an for all nE N, P(n) implies P(n+1), then P(n) is true for all nE N As an example let's try to find a simple expression equal to the following sum and then use induction to prove our guess correct 1·2+2·3+3:4+…+n·(mn+1) To help find an equivalent expression, we could try evaluating the sum for some small n and(with the help of a computer) some larger n sum
