Str82u - 12:16 am on Jan 14, 2013 (gmt 0)
The way you say that made me think they are trying to make us feel better by implying that is what it cost the advertiser (CPC) but that is larger than the % we earn (EPC). We could say "technically speaking, 'cost' isn't quite accurate", it's what OUR part cost the advertiser.
I still can't work out why Adsense use CPC? Cost per click? What else could it mean?