Two important rules:
ODD exponents preserve the sign of the base.
So, (NEGATIVE)^(ODD integer) = NEGATIVE
and (POSITIVE)^(ODD integer) = POSITIVE

An EVEN exponent always yields a positive result (unless the base = 0)
So, (NEGATIVE)^(EVEN integer) = POSITIVE
and (POSITIVE)^(EVEN integer) = POSITIVE
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So, one solution to the inequality \(p^x < p^y\) is \(p = -1\), \(x = 7\) and \(y = 2\)
Plugging those values into the inequality, we get: \((-1)^7 < (-1)^2\)
Simplify to get: \(-1 < 1\), WORKS.

Now plug \(p = -1\), \(x = 7\) and \(y = 2\) into the three statements to get:

i) \(7 - 2 < 0\)
Simplify to get: \(5 < 0\)
NOT true.
So, statement i need not be true.

ii) \(7 < 2(2)\)
Simplify to get: \(7 < 4\)
NOT true.
So, statement ii need not be true.

iii) \(7^{-1} < 2^{-1}\)
Simplify to get: \(\frac{1}{7} < \frac{1}{2}\)
This is TRUE.
So, we can't (yet) conclude that statement iii need not be true.

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Let's see if any other values will show that statement iii need not be true.

Another solution to the inequality \(p^x < p^y\) is \(p = -1\), \(x = 1\) and \(y = 2\)
Plugging those values into the inequality, we get: \((-1)^1 < (-1)^2\)
Simplify to get: \(-1 < 1\), WORKS.

Now plug \(p = -1\), \(x = 1\) and \(y = 2\) into statement iii to get:
iii) \(1^{-1} < 2^{-1}\)
Simplify to get: \(\frac{1}{1} < \frac{1}{2}\)
NOT true.
So, statement iii need not be true.

Answer: E

Cheers,
Brent