"What would really happen is that the price of silver would rise until
marginal uses were enough squeezed out to match supply to demand. Film
doesn't have that much silver in it, so the cost of photographic materials
would rise only a bit. The price would rise far more, as it makes a good
excuse."
When I worked in a retail photo store, there was a joke about this: "When
the cost of silver goes up, the cost of film goes up. When the cost of
silver goes down, the cost of film goes up."
Silver is not horribly expensive. Its cost is not a major factor in the
retail price of most photographic materials.
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