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Is this sufficient? Also, any good books/other suggestions regarding the subject will be very helpful.

Find min, max, inf, sup (if they exist):

$B=\left\{\frac{m}{m+n}:m,n\in\mathbb{N}\right\}$

Showing B has an upper bound: Let $M=1$, we need to find $m,n$ fulfilling:$\frac{m}{m+n}>1$ As $n\in\mathbb{N}$ and is only in the denominator, the smaller it's value, the greater the value of n, the smaller $b$ will be. Therefore, let us choose $n=1$ (smallest possible value).$\frac{m}{m+1}>1\,\,\,\,\,\leftrightarrow\,\,\,\,\,\,m>m+1$

We got a contradiction, thus $M$ is an upper bound of $B$.

Showing $M=\sup B$: Let $\epsilon>0$, we need to find $b\in B$ fulfilling:$\frac{m}{m+n}>1-\epsilon$ Again, we'll choose $n=1$ to get the biggest $b$ possible: $\begin{align} \frac{m}{m+1}&>1-\epsilon\\ m&>m+1-m\epsilon -\epsilon\\m&>\frac{1-\epsilon}{\epsilon} \end{align}$ Therefore for every $\epsilon$ we can choose $n=1,m>\frac{1-\epsilon}{\epsilon}$, which means $\sup B=1$.

Edit: Since $m,n \in\mathbb{N}$, $B>0$.

Showing $0=\inf B$: Let $\epsilon>0$, we need to find $b\in B$ fulfilling: $\frac{m}{m+n}<0+\epsilon$ Choosing $m=1$ to make $b$ as small as possible: $1<\epsilon+n\epsilon\\n>\frac{1-\epsilon}{\epsilon}$

We have shown that such $b$ exists for every $\epsilon$. Therefore, $\sup B = 0$

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    $n$ and $m$ are natural numbers. You seem to have forgotten that. The supremum is one and the infimum is zero.2012-11-12

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Your proof that $1$ is an upper bound is unnecessarily complicated: as $m,n>0$, we have $m, and then $m/(m+n)<1$.

Also, as was mentioned, $0$ is a lower bound (since everything is positive). And it is the infimum, as $1/(1+n)\to 0$.

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If you take $\,\Bbb N=\{1,2,3,...\}\,$, then I think you'll agree with

$\forall\,\,m,n,\in\Bbb N\,\,\,,\,\,\frac{m}{m+n}>0\Longrightarrow 0\,\,\text{is a lower bound for}\,\,M\,...$

I think it'd be a good idea to try to prove that zero is actually the infimum of $\,M\,$

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Consider first case where the value m is much larger than the value of n. $n << m$

Then consider the case where the value n is much larger than the value m. $m <

Write out a few iterations and you'll see where each one is headed. That will give you the supremum and infimum.

I should point out like the other posts that $m,n \in \mathbb{N}$ which means $m,n > 0$.