APMO 2009 Problem 1

Consider the following operation on positive real numbers written on a blackboard:

Choose a number $r$ written on the blackboard, erase that number, and then write a pair of positive real numbers $a$ and $b$ satisfying the condition $2 r^{2}=a b$ on the board.

Assume that you start out with just one positive real number $r$ on the blackboard, and apply this operation $k^{2}-1$ times to end up with $k^{2}$ positive real numbers, not necessarily distinct. Show that there exists a number on the board which does not exceed $k r$.