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=== Adjunctions === Like all universal constructions, the formation of limits and colimits is functorial in nature. In other words, if every diagram of shape ''J'' has a limit in ''C'' (for ''J'' small) there exists a '''limit functor''' :<math>\lim : \mathcal{C}^\mathcal{J} \to \mathcal{C}</math> which assigns each diagram its limit and each [[natural transformation]] Ξ· : ''F'' β ''G'' the unique morphism lim Ξ· : lim ''F'' β lim ''G'' commuting with the corresponding universal cones. This functor is [[right adjoint]] to the diagonal functor Ξ : ''C'' β ''C''<sup>''J''</sup>. This adjunction gives a bijection between the set of all morphisms from ''N'' to lim ''F'' and the set of all cones from ''N'' to ''F'' :<math>\operatorname{Hom}(N,\lim F) \cong \operatorname{Cone}(N,F)</math> which is natural in the variables ''N'' and ''F''. The counit of this adjunction is simply the universal cone from lim ''F'' to ''F''. If the index category ''J'' is [[connected category|connected]] (and nonempty) then the unit of the adjunction is an isomorphism so that lim is a left inverse of Ξ. This fails if ''J'' is not connected. For example, if ''J'' is a discrete category, the components of the unit are the [[diagonal morphism]]s Ξ΄ : ''N'' β ''N''<sup>''J''</sup>. Dually, if every diagram of shape ''J'' has a colimit in ''C'' (for ''J'' small) there exists a '''colimit functor''' :<math>\operatorname{colim} : \mathcal{C}^\mathcal{J} \to \mathcal{C}</math> which assigns each diagram its colimit. This functor is [[left adjoint]] to the diagonal functor Ξ : ''C'' β ''C''<sup>''J''</sup>, and one has a natural isomorphism :<math>\operatorname{Hom}(\operatorname{colim}F,N) \cong \operatorname{Cocone}(F,N).</math> The unit of this adjunction is the universal cocone from ''F'' to colim ''F''. If ''J'' is connected (and nonempty) then the counit is an isomorphism, so that colim is a left inverse of Ξ. Note that both the limit and the colimit functors are [[covariant functor|''covariant'']] functors.
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