Multiple Choice
Assume a lawyer signs a contingency fee contract with a plaintiff.The case ends up settling for $1 million,of which the plaintiff received $800,000.It is obvious this contract was efficient.
A) True, the plaintiff received some money.
B) False, it is not clear whether another lawyer would have settled for more.
C) False, it is not clear whether the plaintiff's lawyer is very smart.
D) True, the plaintiff and lawyer reached an agreement and both lived up to their end of the agreement.
Correct Answer:

Verified
Correct Answer:
Verified
Q52: In a store that sells souvenirs,suppose an
Q53: One reason that lawyers might prefer a
Q54: If an agent is risk neutral and
Q55: Suppose the probability of an employee being
Q56: A firm uses an efficiency wage scheme
Q58: Rents for stores at shopping malls are
Q59: With full information any contract will lead
Q60: In 2008,foreclosures reached a record high.Which of
Q61: Wage reduction policies are less common than
Q62: Suppose a plaintiff hires a lawyer to