Turing equivalence refers to the concept that different computational models, such as Turing machines and lambda calculus, can simulate each other and solve the same class of problems. This idea is central to understanding computability, as it establishes that if one model can compute a function, so can any other equivalent model. It also highlights the limits of computation by demonstrating that there are problems that cannot be solved by any model, reinforcing the importance of Turing machines in the study of computability.
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