
Philip P. answered 04/25/14
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If the curve just has a hole in it (the open circle), and the curve approaches the hole from both sides, then the limit is equal to the value that the function would have at that point without the hole. So, in your case, the limit would = -2.
The reason is that as you get closer and closer to the hole (x→ -1) on the x-axis, the y-value gets closer and closer to -2. At x=-1, the function has no value, but it approaches and gets arbitrarily close to the value of -2.

Philip P.
Yes, the limit basically tells you what the value would be if there weren't a hole there. Take a look at the link below. It explains it pretty well:
http://www.mathsisfun.com/calculus/limits-formal.html
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