Simplify the expression. 
Definitions:
Time Costs
The opportunity costs associated with the time spent on an activity instead of other, potentially more valuable, activities.
Transaction Costs
Expenses incurred in making an economic exchange, including search, bargaining, and enforcement of contracts.
Volume Of Trade
The total quantity of shares or contracts traded for a specified financial instrument or market within a specified period.
Gains From Trade
The increase in utility or welfare that countries or individuals obtain by engaging in voluntary exchange of goods and services.
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