Oct. 25 – Equilibrium price of Chucky

GabeBell Ringers, Economics(BR)

Oct. 25 is National Chucky Day.

The movie “Child’s Play” is actually based on a real event. In 1906, a child was given a doll by a maid in Key West, Fla. The doll is on display in a museum in Key West, and some people claim that their cameras stop working after pointing them at the doll.

Today, the budgeting for a feature film often includes a huge range of products and revenue sources having little to do with the actual movie experience. The “Star Wars” franchise is a great example of how this works. The original film made about $260 million, and returned another $220 million from rereleases. But LucasFilms Ltd. has licensed more than $20 billion of goods.

  1. Would you want a Chucky doll?
  2. Why might demand for Chucky dolls decrease? What would that do to the equilibrium price of Chucky dolls?
  3. Chucky was a popular Halloween costume the year that the movie came out. What would that do to the equilibrium price of Chucky costumes?

Image Citation:

15, Oct. 2018, Charles Doll from Child’s Play [Digital image].  Retrieved from <google.com>.