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F(xy) * f(f(y)/x) = 1

Source: 4th German TST 2005, problem 1

June 3, 2005
functioninequalitiesalgebra proposedalgebra

Problem Statement

Find all monotonically increasing or monotonically decreasing functions f:R+R+f: \mathbb{R}_+\to\mathbb{R}_+ which satisfy the equation f(xy)f(f(y)x)=1f\left(xy\right)\cdot f\left(\frac{f\left(y\right)}{x}\right)=1 for any two numbers xx and yy from R+\mathbb{R}_+. Hereby, R+\mathbb{R}_+ is the set of all positive real numbers. Note. A function f:R+R+f: \mathbb{R}_+\to\mathbb{R}_+ is called monotonically increasing if for any two positive numbers xx and yy such that xyx\geq y, we have f(x)f(y)f\left(x\right)\geq f\left(y\right). A function f:R+R+f: \mathbb{R}_+\to\mathbb{R}_+ is called monotonically decreasing if for any two positive numbers xx and yy such that xyx\geq y, we have f(x)f(y)f\left(x\right)\leq f\left(y\right).