I'm currently studying a course in real analysis and have come across the following well known limit: $$\lim _{n\to\infty}\left(1 + \frac{1}{n}\right)^n=e$$
My question is: If you were given a question that asked you to compute $\lim _{n\to\infty}e^{1/n}$, would it be acceptable to do the following? $$\lim _{n\to\infty}e^{1/n}=\lim _{n\to\infty}\Bigg(\left(1 + \frac{1}{n}\right)^n\Bigg)^{1/n}=1$$
I know you could just take the limit of the power of $e$ in this case, but I'm just thinking for harder questions that I have found.
No. You are trying to sneakily replace a nested limit with a diagonal limit.
You have $\lim_{n \rightarrow \infty} \left( 1 + \frac{1}{n} \right)^n = \mathrm{e}$, so anywhere you have "$\mathrm{e}$", you can replace it with "$\lim_{n \rightarrow \infty} \left( 1 + \frac{1}{n} \right)^n$" (possibly changing the limit variable to avoid using an already bound variable).
In $\lim_{n \rightarrow \infty} \mathrm{e}^{1/n}$, $n$ is already bound, so we have to use a different placeholder variable in our substitution. Let's use $m$. We get $$ \lim_{n \rightarrow \infty} \left( \lim_{m \rightarrow \infty} \left( 1 + \frac{1}{m} \right)^m \right)^{1/n} $$ where I have wrapped our substitution in parentheses to avoid any possible ambiguity in meaning from the 2-dimensional notation.
Notice the process that this describes:
This is not the same process as the single limit you write. In general, the two variable limit can exhibit a range of behaviours that the diagonal limit (the limit along the diagonal line $m = n$) does not.