How do you determine how much you are willing to pay per click?

CPC) is calculated by dividing the total cost of your clicks by the total number of clicks. Your average CPC is based on your actual cost-per-click (actual CPC), which is the actual amount you’re charged for a click on your ad. Note that your average CPC might be different than your maximum cost-per-click (max.

For More Information Please Refer: https://support.google.com/google-ads/answer/14074?hl=en