Question: Consider a typical consumer packaged goods firm (for example, Kellogg's the maker of many breakfast cereals). Evaluate the following statement : New packaging is unlikely

Consider a typical consumer packaged goods firm (for example, Kellogg's the maker of many breakfast cereals). Evaluate the following statement: "New packaging is unlikely to create value (meaning increase the gap between WTP and Cost) given that packaging is generally imitable." Please take the imitability of packaging as a given. In your response, please address what you believe are the effects of the new packaging on (couple of sentences each to explain your answer):a. Value creation (WTP-C) b. Consumer surplus (WTP-P) and c. Producer surplus (P-C)

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