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Competitive advertising as waste of resources

Economists have conventionally concluded which, from the vantage point of society as an entire, competitive advertising in that case: (1) enables consumers to make more efficient economic choices. (2) is a waste of resources. (3) considerably decreases transaction costs. (4) tends to reduce prices and dampen inflationary pressure. (5) is more efficient than cooperative advertising.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

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