The expression ∃y (p(y) ∧ q(y)) denotes the existence of at least one element 'y' in a given domain such that both predicates p and q hold true for that element. This logical formulation emphasizes the conjunction of two properties, indicating that there is a specific instance where both conditions are satisfied simultaneously. The use of existential quantification makes it clear that at least one example exists within the universe of discourse.
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