What is the nature of the transaction costs


Problem

Suppose you meet some friends at a pizza restaurant. You are all very hungry, and you know the wait for the pizza may be long. At the next table, you see some people who have just finished one pizza, and another is about to be delivered to their table. Explain how you could conceivably create a market that would make both your table and the other table better off. What is the nature of the transaction costs that prevent such trades from happening in restaurants in real life?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What is the nature of the transaction costs
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