Suppose $(X,\ d)$ is a compact metric space and $f:X\to X$ is a continuous function with the property that $$d(f(x),\ f(y))\le\frac{1}{2}d(x,\ y)$$ $\forall x,\ y\in X$.
Show that $f$ has a unique fixed point.
Hint: Define $f^1=f$ and $f^{n+1}=f\circ f^n$. Consider the intersection of the sets $A_n=f^n(X)$.