One factor that the AdWords system uses to calculate an ad's actual cost per click (CPC) is the:

One factor that the AdWords system uses to calculate an ad's actual cost per click (CPC) is the:

Answer

•  maximum CPC bid of the ad appearing in the no. 1 position on the page.
•  location targeting of the ad appearing one position lower on the page.
•  maximum CPC bid of the ad showing one position lower on the page.
•  cost per thousand impressions (CPM) of the ad appearing one position lower on the page.