A Retainer

question 36

Multiple Choice

A retainer

• A) works to secure the release of an arrested person.
• B) refers to the costs incurred by a lawyer on a client's behalf.
• C) is the amount a lawyer will receive when charging based on a contingency fee agreement.
• D) works as a deposit.
• E) is the amount a client must pay that is in addition to regular legal fees and disbursements.

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Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to offer for sale at a particular price.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefit to society from the production and consumption of goods or services.

Bottom-up Change

A change strategy where ideas and initiatives originate from lower-level employees and move upward through the organizational hierarchy.

Top-down Change

What occurs when change initiatives come from senior management.