Does rank number determine top position

Or is it maximum CPC

[Mandrake]

You have three bidders and three ads:

Bidder#1: Max CPC $3 (Act.CPC $2.01) CTR 1%, $3 x 1% = Rank number 0.03
Bidder#2: Max CPC $2 (Act.CPC $1.01) CTR 2%, $2 x 2% = Rank number 0.04
Bidder#3: Max CPC $1 (Act.CPC $0.51) CTR 5%, $1 x 5% = Rank number 0.05

Is it right to assume that bidder #3 will get the top spot while only paying $0.51 for it, based on highest rank number?

Or, is it the other way round? Max CPC determines position, and the CPC you pay is discounted by your CTR?

[roitracker]

The first one (highest rank number).

[NewNick]

You mean Bidder#1 gets top position? Just to clearlify - you mean that 0.03 is a higher rank number than 0.05? I don't get it.

[Ally_Cat]

I think he means the first of your 2 statements; not the first bidder.

[roitracker]

ie. bidder #3 will get the top spot while only paying $0.51 for it, based on highest rank number.

[NewNick]

ok, that makes sense. Thanks roitracker!