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The AdSense CPC, or Cost-Per-Click, is the amount the advertiser has to pay to Google every time an internet user clicks on one of Google's ads.
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The CPC, like CTR, is a metric to determine what the cost is for the advertiser each click he gets on his/her ads. If you don't know it yet,
what is AdSense CTR?
AdWords is using the CPC system as well, meaning the CPC rate is beneficial for the Publisher (AdSense) and not for the Advertiser (AdWords). Then again, for advertising you have to pay anyway...
However having a high CPC for the publisher is great, you can even call it Earnings-Per-Click.