What is wrong with this "proof"?"Theorem" For every positive integer n, if x and y are positive integers with max(x, y) = n, then x = y.Basis Step: Suppose that n = 1. If max(x, y) = 1 and x and y are positive integers, we have x = 1 and y = 1.Inductive Step: Let k be a positive integer. Assume that whenever max (x, y) = k and x and y are positive integers, then x = y. Now let max(x, y) = k + 1, where x and y are positive integers. Then max(x ? 1, y ? 1) = k, so by the inductive hypothesis, x ? 1 = y ?1. It follows that x = y, completing the inductive step.

Model Building and Gains from Trade Tuesday, January 24, 2017 4:16 PM Scientific Method in Economics -‐Construct a theory (or hypothesis) -‐Design experiments to test the theory -‐collect data -‐Revise or refute the theory based on the evidence Their lab is the...