WEEK 1

Functions and their Limits

Kwok-Wing Tsoi

1.1 Vocabulary of functions

In this course, we will study functions of one real variable.

Example. f (x) = sin(x)

(
x if x < 0,
Example. f (x) =
x +12
if x ≥ 0

Example. f (x) = |x|

2
Calculus 1 for Economists (Year 112) K.-W. Tsoi 3

1.2 Exponential functions and their properties

In this section, we study functions of the form

f (x) = ax for some a > 0.

For example, the graph of y = 2x is shown in Figure 1.

Figure 1. The graph of y = 2x

 x
1
Example. Sketch the graph for y = .
2

Example. You are given the sketch of four exponential functions in the following
graph. Compare the size of a, b, c and d.
Calculus 1 for Economists (Year 112) K.-W. Tsoi 4

1.3 What is e - episode I

Definition 1.3.1. ‘e’ is the real number such that the slope of the tangent to y = ex
at (0, 1) equals to 1.

Remark. Some of you may have seen the following, perhaps, more ‘popular definition’
of the number e. We will discuss this in Week 3.

Definition 1.3.2 (Alternative definition). x

1

The number ‘e’ is the limit of y = 1 + when x tends to infinity.
x
x
1

In other words, e = lim 1+ .
x→∞ x
Calculus 1 for Economists (Year 112) K.-W. Tsoi 5

1.3.1 Natural logarithm ln(x)

Definition 1.3.3. The natural logarithm ln(x) is the ‘logarithm with base e’. i.e.
ln(x) = loge (x).

Example. Solve the equation ln(x) − ln(4x + 2) = 1.

Calculus 1 for Economists (Year 112) K.-W. Tsoi 6

1.4 Limits - the basics

In this chapter, we develop the language of ‘limits’ that allows us to describe the asymptotic
behaviours of a function, which lies at the subject matter of Calculus.

1.4.1 Intuitive definition

Definition 1.4.1 (‘Definition’). We write lim f (x) = L if the values of f (x) get (arbi-
x→a
trarily) close to L when x gets sufficiently close to a (from both sides) but not equal
to a.

x2 − 4
Example. Compute the limit lim .
x→2 x − 2

x2 − 4 (x + 2)(x − 2)
Solution. lim = lim = lim (x + 2) = 2 + 2 = 4
x→2 x − 2 x→2 x−2 x→2

1 + cos(2x)
Example. Compute the limit limπ .
x→ 2 cos(x)
Calculus 1 for Economists (Year 112) K.-W. Tsoi 7

1.4.2 One-sided limits

Definition 1.4.2 (‘Definitions’). We write

(a) lim+ f (x) = L if the values of f (x) get (arbitrarily) close to L when x approaches
x→a
to a from the right, but not equal to a.

(b) lim− f (x) = L if the values of f (x) get (arbitrarily) close to L when x ap-
x→a
proaches to a from the left, but not equal to a.

Theorem 1.4.1. If lim+ f (x) = lim− f (x) and its value equals to L, then lim f (x)
x→a x→a x→a
exists and is equal to L as well.
(
x if x < 0
Example. Let f (x) = . Compute lim+ f (x) and lim− f (x).
x +1
2
if x ≥ 0 x→0 x→0

Solution.

lim f (x) = lim+ (x2 + 1)

x→0+ x→0

=1

lim f (x) = lim− x

x→0− x→0

=0

x x
Example (Absolute values). Compute the limits lim+ and lim− .
x→0 |x| x→0 |x|
Calculus 1 for Economists (Year 112) K.-W. Tsoi 8

x2 − 4x + 3
Example (Square Root Trap). Evaluate the limit lim− p .
x→3 (x − 3)2

Example (Greatest integer function). Compute the limits lim+ JxK and lim− J−xK.
x→2 x→2
Calculus 1 for Economists (Year 112) K.-W. Tsoi 9

1.5 Infinite limits and vertical asymptotes

Definition 1.5.1 (‘Definitions’). We write

(a) lim f (x) = ∞ if the values of f (x) get arbitrarily large positively when x ap-
x→a
proaches to a, but not equal to a.

(b) lim f (x) = −∞ if the values of f (x) get arbitrarily large negatively when x
x→a
approaches to a, but not equal to a.

Analogously, we can define lim+ f (x) = ±∞ and lim− f (x) = ±∞. Indeed,
x→a x→a

Definition 1.5.2. We say that x = a is a vertical asymptote for the graph y = f (x) if
at least one of the following is valid :

lim f (x) = ∞ lim f (x) = ∞ lim f (x) = ∞

x→a+ x→a− x→a

lim f (x) = −∞ lim f (x) = −∞ lim f (x) = −∞.

x→a+ x→a− x→a

Example (I. Logarithm). Consider the function f (x) = ln(x).

1
Example (II. Denominator explosion). Consider the function f (x) = .
x2
Calculus 1 for Economists (Year 112) K.-W. Tsoi 10

Example (III. Tangent). Consider the function f (x) = tan(x).

Using these, we can read off the vertical asymptotes of an arbitrary function easily.
2x − 1
 
Example. Let f (x) = ln 1 − .
(x − 1)(x − 3)
Write down all the vertical asymptotes of y = f (x).
Calculus 1 for Economists (Year 112) K.-W. Tsoi 11

1.6 Techniques of computing limits (I)

sin x
1.6.1 An important limit : lim
x→0 x
sin(x)
The following is a sketch of y = .
x

sin(x)
Theorem 1.6.1 (Sine trick). lim =
x→0 x

Proof. We will postpone the proof of this limit to next week.

1.6.2 Skills 1 : Algebras of limits

Theorem 1.6.2 (Algebras of limits). Suppose both the limits lim f (x) and lim g(x)
x→a x→a
exist. Then the following are valid.

(1) lim (f (x) ± g(x)) = lim f (x) ± lim g(x),

x→a x→a x→a

(2) lim (f (x) · g(x)) = lim f (x) · lim g(x),

x→a x→a x→a

f (x) lim f (x)

(3) lim = x→a whenever lim g(x) ̸= 0.
x→a g(x) lim g(x) x→a
x→a

tan(x)
Example. Compute lim .
x→0 x
Calculus 1 for Economists (Year 112) K.-W. Tsoi 12

1.6.3 Skills 2 : Rationalization

To compute limits that involve sums or differences of two functions that grow at a similar
rate, it is often useful to do so-called ‘rationalisation’ - the key identity here is

(A + B)(A − B) = A2 − B 2 .
√
x2 + 16 − 4
Example. Compute lim .
x→0 x2
Solution.
√ √
x2 + 16 − 4 x2 + 16 − 4
lim = lim
x→0 x2 x→0 x2

The technique of ‘rationalization’ also sheds light on computing the following limit.
1 − cos x
Example. Compute lim .
x→0 x2
Solution.
1 − cos x 1 − cos x
lim = lim
x→0 x2 x→0 x2