CVP, executive teaching compensation. Brian Smith is an internationally known U.S. professor specializing in consumer marketing. In 192 Smith and the United Kingdom Business School (UKBS) agreed to conduct a one-day seminar at I KBS for marketing executives. Each executive would pay £260 to attend the one-day seminar. The dean at UKBS indicates to Smith that the fixed costs for UKBS conducting the seminar would be:

♦ Advertising in magazines £4,000

♦ Mailing of brochure £3,000

♦ Administrative labo UKBS £2,000

♦ Charge for UK iiS lei re auditorium £1,000