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

question 59

Multiple Choice

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

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

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Definitions:

Group Bonus

A reward given to a team or group of employees for achieving significant goals or completing a project successfully.

Mutual Support

The provision of assistance, encouragement, and comfort between members of a group, leading to a stronger collective.

Room To Grow

Opportunities or space for development and improvement in a certain area.

Variety And Challenge

The diverse and stimulating aspects of work or activities that prevent monotony and promote engagement.