When the advertising agency of Lopez and White purchased several hours of television time for its customers' commercials from KLOX-TV,the agency received 15 percent of the gross amount charged by the station.The 15 percent is known as a

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The 15 percent received by the advertising agency from the gross amount charged by the television station is known as a media commission. This is a standard practice in the advertising industry for agencies to receive a commission for purchasing media on behalf of their clients.

When the Advertising Agency of Lopez and White Purchased Several