Let $X$ be a vector space. Two norms $\|\cdot\|,\|\cdot\|':X\to\mathbb{R}$ are equivalent, if there are constants $\alpha,\beta >0$, such that for all $x\in X$ holds:
$\alpha\|x\|\leq \|x\|'\leq \beta\|x\|$
Show that all norms on $\mathbb{R}$ are equivalent.
A detailed hint is given:
It is enough to show, that an arbitrary norm $\|\cdot\|'$ is equivalent to the Euclidean norm $\|\cdot\|$. [Why is that the case?]
Consider the set $M:=\{x\in\mathbb{R}:\|x\|'\leq 1\}$ and show, that it exists an $r\in (0,\infty)$, such that $M=[-r,r]$. It is possible to show, that $r\|x\|'=\|x\|$ for all $x\in\mathbb{R}$.
My first question is, why it is enough to show, that an arbitrary norm is equivalent to the Euclidean norm?
Then I want to follow the hint and find $r$ with $M=[-r,r]$, but I am stuck and do not know how to start here...
I would appreciate a hint to get me started.
Thanks in advance.