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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def setClass(self, factoryclass):
 """Sets the constructor for the component type this label is to represent :param factoryclass: a class that, when called, results in an instance of the desired class :type factoryclass: callable """

        self.factoryclass = factoryclass
        self.setText(str(factoryclass.name))