In the silver market, 1 million ounces are offered for sale each month by producers at the initial price of $6 per ounce. The price the rises to $8 a. Given the new $8 price for silver, what happens to quantity supplied in the immediate run? Quantity supplied rises above million ounces, because producers are able to vary the amount they supply Quantity supplied remains at 1 million ounces because producers are unable to vary the amount they supply Quantity supplied falls below I million ounces, because producers are able to vary the amount they supply The supply curve in the immediate run is therefore(Click to select b. Given the new 58 price for silver, what happens to quantity supplied in the short run? Quantity supplied falls below 1 million ounces because producers are able to vary the amount they supoy Quantity supplied dises above 1 million ounces because producers are able to vary me amount they supply Quantity supplied temains at 1 million ounces because producers are unable to vary the amount these