In response to competitive pressure from some of its best clients, a Chicago law

Question

In response to competitive pressure from some of its best clients, a Chicago law firm (the "firm") created a program to pre-bill these clients using a flat montly fee in lieu of traditional hourly-billing. The clients received unlimited legal representation in three practice areas: employment, litigation, and small transactional work.

Clients wanted the flat-fee billing to better predict and control their expenses, and the law firm thought they could profitably accomodate this request by utilizing lower cost and younger attorneys at the firm.

Read the case above and offer a comprehensive solution to each problem below:

Analyze the key economic issues in the case.

Recommend three different business solutions to the case using managerial economic models and methods.

Justify the role of managerial economics by identifying the metrics you would use to assess the success of your decisions.

Explanation / Answer

i am the responsible for all the actions and decisions taken by me. and i will take decisions based on all the requirements and by considering all the limitations only

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