 Solution

Two norms $N_1,N_2$ are equivalent norms when constants $c,C>0$ satisfyfor every $v$.

For $x,y\in {\mathbb{R}}^n$, the reverse triangle inequality givesby the Cauchy-Schwarz inequality. Hence $g$ is Lipschitz continuous, and therefore continuous.

On the compact Euclidean unit sphere, $g$ is positive and continuous, so the extreme value theorem gives $0<m\le g\le M<\infty$. Homogeneity then yieldsThus every norm on a finite-dimensional vector space is equivalent to the Euclidean norm; comparing two such bounds proves any two norms on $V$ are Lipschitz equivalent.