What is the significance of the class P in computational theory?

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What is the significance of the class P in computational theory?

The class P in computational theory is significant because it represents the set of decision problems that can be solved efficiently by a deterministic Turing machine. Problems in P can be solved in polynomial time, meaning that the time required to solve them grows at most as a polynomial function of the input size. This class is important because it captures a wide range of practical problems that can be solved efficiently using algorithms. It provides a foundation for understanding the complexity of various computational tasks and helps in the development of efficient algorithms for solving real-world problems. Additionally, the class P is closely related to the concept of tractability, as problems in P are considered to be tractable and feasible to solve in practice.