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Discuss three (3)mechanisms of magma origination.
Price Elasticity
A measure of the sensitivity of demand or supply for a product or service to changes in its price.
Incidence
The measure or rate at which a particular phenomenon occurs, often used in the context of disease or taxation.
Perfectly Elastic
Describes a situation in which the quantity demanded or supplied reacts to the smallest change in price with an infinite amount of change in quantity.
Excise Tax
A targeted tax levied on the sale of specific goods and services, such as alcohol and tobacco, often used to discourage consumption.
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