Lawyers in Private Practice Perform All but Which One of These

question 11

Multiple Choice

Lawyers in private practice perform all but which one of these major roles?

• A) counselling
• B) negotiating
• C) drafting
• D) litigating
• E) accounting

---

Definitions:

Short Run

In economics, a period during which at least one input, like factory size or machinery, is fixed and cannot be changed, as opposed to the long run where all factors can be varied.

Long Run

A period in economic analysis where all inputs can be adjusted and there are no fixed factors of production.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, reflecting the true profitability of a company.

Short Run

A period in economics during which at least one input is fixed and cannot be changed. It contrasts with the long run, where all inputs can be adjusted.