Problem

Source: Moldova TST 2022

Tags: inequalities



Let $P(X)$ be a polynomial with positive coefficients. Show that for every integer $n \geq 2$ and every $n$ positive numbers $x_1, x_2,..., x_n$ the following inequality is true: $$P\left(\frac{x_1}{x_2} \right)^2+P\left(\frac{x_2}{x_3} \right)^2+ ... +P\left(\frac{x_n}{x_1} \right)^2 \geq n \cdot P(1)^2.$$When does the equality take place?