What does maximum cost per click CPC refer to?

Cost-per-click (CPC) bidding means that you pay for each click on your ads. For CPC bidding campaigns, you set a maximum cost-per-click bid - or simply “max. CPC” - that’s the highest amount that you’re willing to pay for a click on your ad (unless you’re setting bid adjustments, or using Enhanced CPC).

For More Information Please Refer: https://support.google.com/google-ads/answer/116495?hl=en