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A large hole will form as a result of the volcano caving in. This can also be known as a caldera. The caldera is creating when the empty magma chamber of the volcano collapses.

Answer: Caldera

A caldera is a volcanic form which develops by the collapse of the volcano into itself. It occurs when the magma chamber beneath the volcano gets emptied and the the area is not able to support the volcanic debris. The fractures develop in the vents of the volcanic crater.  

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