Rather Than Billing Clients by the Hour, Some Lawyers and Their

question 79

Multiple Choice

Rather than billing clients by the hour, some lawyers and their clients agree on a fixed fee based on expected costs plus an agreed-on level of profit for the law firm. Which pricing approach are they using?

• A) target pricing
• B) cost-plus pricing
• C) customary pricing
• D) experience-curve pricing
• E) bundle pricing

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Definitions:

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Characterized by having learned a specific response to a specific stimulus through conditioning.

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The consumption of food that has been cooked in oil or fat, usually leading to a higher intake of calories and potentially harmful fats.

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A form of prejudice that is more subtle and indirect than overt racism, often manifesting in denial of racial inequality or prejudice.

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The unjust or prejudicial treatment of different categories of people, often based on race, age, or gender.