Question

Lawyers frequently supply their services at different prices for different clients based on the clients’ ability...

Lawyers frequently supply their services at different prices for different clients based on the clients’ ability to pay. How does this differential pricing impact exchange efficiency? Be specific.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Setting a price requires the lawyer to understand the value of his work. Value will mean different things to differnt clients. One client will find emotional value in the relief that can give them in a matter, while another will get financial value through a contract a lawyer help negotiate for their business.

They can initially communicate values for clients through marketing campaignsbut this should mean to attract their ideal clients so they don't have to defend the pricing for their service.

Value is dependent on context, it means that the client price depends on context. A lawyer must emphasis on how his clients are benefiting from their relationship and also he must do his best to understand the values of those benefits.

Also a lawyer's price also reflects your mission and values so they must make sure that the number they charge may work for them.

Thankyou, Hope it helped.

Cheers

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. If stock prices should be based on future cash flows (i.e., dividends) why do investors...
1. If stock prices should be based on future cash flows (i.e., dividends) why do investors purchase stocks of companies that do not pay dividends? 2. There are some that say that U.S. firms concentrate too much on short-term profits and not enough on long-term profits. Do you agree? How does this conflict with the valuation of stock based on future cash flows. 3. Describe the Efficient Market Hypothesis. 4. Describe Weak efficiency Semi-strong efficiency Strong efficiency Which, if any,...
Private Consumption – Supply / Demand List three (3) goods or services that you buy frequently....
Private Consumption – Supply / Demand List three (3) goods or services that you buy frequently. Fill in the following details for each goods or service in the provided table: The current price and the quantity that you normally buy. A higher price than the current price and the quantity that you would buy at that price. A lower price than the current price and the quantity that you would buy at that price. Item 1 Price Quantity Bought Item...
My orgnazation is UBER Uber is one of the biggest application based taxi services across the...
My orgnazation is UBER Uber is one of the biggest application based taxi services across the world. Who provide employment to thousands of the drivers across the globe and connect the network of the specific drivers in the most efficient way. Some of the main competitive advantage strategies of the Uber are as follows: Uber is an international brands and provides its services across the globe which directly make him a mostly influential service provider across the globe. Uber does...
1. How are spot exchange rates determined? a. Using historical average prices of different currencies b....
1. How are spot exchange rates determined? a. Using historical average prices of different currencies b. Taking the average of a basket of currencies c. The interaction between demand and supply of a currency relative to other currencies d. Government decree e. Predicting future currency movements in nonmember countries Question text 2. Comp-U-Learn Inc. prides itself on a competitive advantage based on their proprietary educational software technology. What two entry modes should the company avoid in order to minimize the...
I need just answer! 1. Suppose Noah has an individual labour supply curve that is upward-sloping....
I need just answer! 1. Suppose Noah has an individual labour supply curve that is upward-sloping. Which of the following increases would Noah respond to, and how? Select one: a. the wage, by enjoying more leisure b. the wage, by working more hours per week c. the opportunity cost of leisure, by working fewer hours per week d. the opportunity cost of leisure, by taking vacations without pay 2. Which of the following does the neoclassical theory of labour predict...
Supply and Demand. I need to write a forum on economics using the manager’s perspective on...
Supply and Demand. I need to write a forum on economics using the manager’s perspective on how to maximize profits using supply and demand. Using at least 75 words to explain. This is some of the chapter on supply and demand. Supply and demand analysis is a qualitative tool which, empowers managers by enabling them to see the “big picture.” It is a qualitative forecasting tool you can predict trends in competitive markets, including changes in the prices of your...
I. The prices of financial assets are based on the expected value of future cash flows,...
I. The prices of financial assets are based on the expected value of future cash flows, discount rate, and past dividends. A. True B. False II. By using different discount rates, the market allocates capital to companies based on their risk, efficiency, and expected returns. A. True B. False III. A 10-year bond pays 12% interest on a $1,000 face value annually. If it currently sells for $1,100, what is its approximate yield to maturity? A. 10.35% B. 10.91% C....
Bentley Industrial Services Management wants to acquire Lerner Industrial Services Management Corporation. Lerner is willing to...
Bentley Industrial Services Management wants to acquire Lerner Industrial Services Management Corporation. Lerner is willing to be acquired at a minimum price of $121 million and nothing less. However, two of Bentley’s major shareholders are not in favor of this acquisition. Lerner had no scientific basis for asking for a minimum of $121 million. Industry Structure The industry is about $120 billion in Industrial facility services management including engineering energy needs that include heating, ventilation, and air conditioning. The industry...
Performance-Setting Retail Prices Read the overview below and complete the activities that follow. Emily has always...
Performance-Setting Retail Prices Read the overview below and complete the activities that follow. Emily has always been obsessed with smell. Emily believes that everyone has a signature scent. To pursue her passion, Emily is opening a boutique store, Perfumance, that specializes in scent development. Emily believes that to find a person's signature scent, she has to spend time with them one-on-one, understand their lifestyles and what makes them unique. Emily is having a difficult time determining what her pricing strategy...
Explain the different goals that a firm might have and compare and contrast the goals that...
Explain the different goals that a firm might have and compare and contrast the goals that event organisers seem to have with the goals of resale companies like Stubhub and Viagogo. Word limit - 160 words The market for ticket prices in the entertainment industry In April 2020, the United Kingdom’s Competition and Markets Authority (CMA) launched an investigation into the £4billion merger between two ticket resale companies, Viagogo and Stubhub. In the past in the UK there were a...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT