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>if we assume that the market would have converged on the correct price in the absence of advertising

>the value of money is well known and non-negotiable

I wouldn't start with these assumptions since prices fluctuate on their own for somewhat unpredictable reasons. Just because advertising is immoral in some ideal world, doesn't mean it's immoral in a real one.

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The immorality is whether the product/service is any good.

Perversely, the more expensive a product the more perceived quality a product has, its perhaps why German cars are so popular. People like to show off their wealth which is what makes designer brands popular.

There is little point advertising monopoly products like fuel though, any advert is just going to be brand awareness maintenance in those situations, which also helps to keep the media/newspapers onboard for PR reasons to keep the bad press at bay!

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