I know that iterating over all subsets of a set of size n is a performance nightmare and will take O(2^n) time.
How about iterating over all subsets of size k (for (0 <= k <= n))? Is that a performance nightmare? I know there are (n, k) = n! / k! (n - k)! possibilities. I know that if k is very close to 0 or very close to n, this is a small number.
What is the worst case performance in terms of n and k? Is there a simpler way of saying it other than just O(n! / k! (n - k)!)? Is this asymptotically smaller than O(n!) or the same?