Since Google will by default rank the most narrowly focused keyword phrase bids first, they will also do likewise with the geographic focus of keyword phrase bids.
Therefore a bid for the exact phrase match option along with your geographic match option will rank your ad first if there are no other bidders with this exact option. If there are other bidders with this exact option then it goes to the most relevant ad, determined by your ad's maximum bid price coupled with its click-through rate (CTR).
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My question is ... Would the above statement be true as it is written? If not, would it be possible to reword it somehow to where it would be true?
Since Google will by default rank the most narrowly focused keyword phrase bids first, they will also do likewise with the geographic focus of keyword phrase bids
This is not entirely correct. Google does this for each account (How G chooses YOUR keyword [webmasterworld.com]) (post 10 & 11), and then they compare all the chosen keywords with their Bid Rank Formula [webmasterworld.com](post 11), and then rank all the ads.
You could bid on 'crazy fuzzy blue widget', and all your competitors bid on 'widget', and not be shown on the first page of results.
I don't think that geo targeting has any effect on position at all - just display & matching options.