A small, isolated town discovers a vast, valuable mineral deposit, leading to the rapid establishment of several large-scale extraction operations. These new operations require hundreds of specialized heavy machinery operators. Within two years, the average wage for these operators in the town has tripled, while wages for other jobs, like retail clerks and teachers, have seen only minor increases. Which economic principle best explains this specific and dramatic wage increase for the machinery operators?
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A small, isolated town discovers a vast, valuable mineral deposit, leading to the rapid establishment of several large-scale extraction operations. These new operations require hundreds of specialized heavy machinery operators. Within two years, the average wage for these operators in the town has tripled, while wages for other jobs, like retail clerks and teachers, have seen only minor increases. Which economic principle best explains this specific and dramatic wage increase for the machinery operators?
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