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In a certain liability suit, a lawyer has to decide whether to charge a straight fee of $1200 or to take the case on a
In a certain liability suit, a lawyer has to decide whether to charge a straight fee of $1200 or to take the case on a contingency basis, in which case she will receive a fee of $5000 only if her client wins the case. Determine whether the straight fee or the contingency arrangement will result in a higher expected fee when the probability that the client will win the case isa. b.
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