Based on the context and readings in Chapter 16, “Monopolistic Competition” and the area of Advertising, that discusses the debate over advertising being a waste of resource use, or does it serve a valuable purpose? Consider both sides of the discussion and consider how advertisements are inundated into our current culture via social media and your purchasing history. With the ever-increasing focus on social media marketing, how has this impacted the costs of traditional advertising? Do you perceive the value to be different than more conventional methods? Is it more cost-effective? Defend your position with examples and make sure to cite your sources! This answer should be at least 1-2 paragraphs with sources.
https://digitalmarketinginstitute.com/blog/the-cost-of-social-media-advertising-wheres-the-value (Links to an external site.)
https://www.webfx.com/Social-Media-Pricing.html (Links to an external site.)
https://blog.hootsuite.com/social-media-advertising-stats/ (Links to an external site.