For me, it seems both the above mentioned statements are true and are equivalent. But, in my textbook, it is written otherwise. Please let me know if textbook has a printing mistake or where i am getting wrong. Thanks.
Why "There exists a positive number y such that for every positive number x ,we have y<x" is a FALSE statement.
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The new situation where this can be accomplished is the ordered field of rationa functions with real coefficients. For polynomials $p(x), q(x)$ where $q$ is not allowed to be the constant $0$ polynomial, although it is permitted to have (a finite number of) roots, we call $\frac{p}{q}$ "positive" if there is a (large) positive number $X$ such that for every $x > X,$ we have $\frac{p(x)}{q(x)} > 0.$ So, for instance, $$ \frac{x - 1234567890}{x^{57}} $$ is a positive element in this ordered field.
Next, given two rational functions, say $r(x)$ and $s(x),$ we say that $r > s$ if $r-s$ is "positive," there is a $X$ such that every $x > X$ gives $r(x) - s(x)$ positive.
This field does have a copy of the real numbers (as constant polynomials/rational functions). It also has infinitesimal elements, gy our definitions $\frac{1}{x}$ is infinitesimal, in tha, for any real positive constant $\epsilon,$ we have $\epsilon$ greater than the function $\frac{1}{x}.$ Indeed, we can take $$ X = \frac{1}{\epsilon}. $$ Whenever $$ x > X = \frac{1}{\epsilon} $$ we get $$\frac{1}{x} < \epsilon$$

The first sentence says, for every positive number $x$ you name, I can name a smaller positive number $y$. Sure, I just take $y=\frac x2$,
The second sentence says there's a positive number $y$ that's smaller than any positive number $x$ you can name. How does that work? I name $y$, you name $\frac y2$.