I'm currently self studying Spivak's calculus, but the problems in the back of each chapter are quite difficult. I'm not sure where to start on this problem.
Find a $\delta$ such that $|f(x)-l| < \epsilon$ for all $x$ satisfying $0 < |x-a| < \delta$ for $f(x) = \frac1x$; $a =1$, $l =1$.
Note that $$ \left|\frac{1}{x}-1\right|=\left|\frac{1-x}{x}\right|=\frac{|x-1|}{|x|}\tag{1} $$ Suppose that $|x-1|<\frac{1}{2}$. Then $$ 1=|1|=|(1-x)+x|\leq |1-x|+|x|=|x-1|+|x|<\frac{1}{2}+|x| $$ and hence $$ |x|>1-\frac{1}{2}=\frac{1}{2}\Longleftrightarrow \frac{1}{|x|}<2 $$ Going back to $(1)$, we have $$ \left|\frac{1}{x}-1\right|=\frac{|x-1|}{|x|}<2|x-1| $$ We want to make $\left|\frac{1}{x}-1\right|<\epsilon$ which forces $2|x-1|<\epsilon$ and so $|x-1|<\frac{\epsilon}{2}$. Hence, we choose $\delta=\min\left(\frac{1}{2},\frac{\epsilon}{2}\right)$.
Note that there is nothing special about $\frac{1}{2}$. We could use $\frac{1}{3}$ but then we would choose $\delta=\min\left(\frac{1}{3},\frac{2\epsilon}{3}\right)$.