How to address job posting "requirements" you don't meet?

Applying for a job where I don't meet one of the job requirements as listed in their job posting. If I made it to an interview and that was brought up, how do you respond? Is it ok to just say, "I did not list that on my resume and you asked for the interview. I assumed it was already taken into consideration."? Obviously a little more delicately or diplomatically put, but the general gist of a response?

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