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Transaction costs Eleanor no longer needs her old couch. She pays $ 3 0 to post an ad in the local paper: FREE couch -

Transaction costs

Eleanor no longer needs her old couch. She pays $

30

to post an ad in the local paper: "FREE couch

-

you haul." Kevin needs a couch for his He spots the ad and rents a van for $

80

an hour in order to haul the couch. Kevin earns $

26

per hour as a loan officer. He takes an hour off

w

order to pick up the couch.

The transaction costs associated with this exchange are

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