**List**: Ordered; allows duplicates; indexable; O(n) lookup. **Set**: Unordered; unique elements only; hash-based; O(1) average lookup. **Why it matters**: Set membership and deduplication are fast; lists preserve order and support duplicates. **Scalability trade-off**: Sets use more memory per element (hash + overhead); lists are compact. For large dedup, set wins on lookup; for ordered data, list is required. **Cost implication**: Repeated `x in list` is O(n) per check; `x in set` is O(1)....
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