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Also click prices do depend upon quality of traffic. Traffic from US / Europe seems to pay the most. Rest of the world can be in the sub 10 cent range. My 2 cents.
AdSense is not a way to get rich quick. Stay focussed for long term slow growth.
My take on it is the following:
If I have a great article about a payday loan and in this article I am convincing the user to get one. After they are done reading, they click on an ad and it converts into a sale for the advertiser. I am going to get a huge "reward" for these converting clicks because everyone wins(except the poor soul who needs a payday loan).
If I have a crappy article and none of the clicks turn into leads, there is no reward for me.