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$3.$ Transaction costs

Crystal no longer needs her old futon. She pays $$30$ to post an ad in the local paper: "FREE futon$-$you haul." Eric needs a futon for his new home. He spots the ad and rents a van for $$80$ an hour in order to haul the futon. Eric earns $$26$ per hour as a loan officer. He takes an hour off work in order to pick up the futon.

The transaction costs associated with this exchange are

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