What is the difference between a Layer-3 switch and a router?

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Hopefully this will help settle the long running confusion about Layer-3 switches in this forum...

Some network topologies as illustrations

1. Single Router

               Internet
                  |
                  | 1.1.1.0/24
                  |
                Router
                  |
  LAN 1 with Unmanaged Switch (UM)
                10.0.1.0/24

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