Hi Anash,

Thank you for the detailed answer.

I think you should update the Rate 
Sheet<http://code.google.com/apis/adwords/docs/ratesheet.html>page with these 
details, now it is not at all obvious how the price is 
calculated.

We are indeed using 1 ad + 1 keyword per ad-group because, as you've 
noticed, we *do* target specific terms. This is the reason we have so many 
ad-groups per campaign.

Thanks,
George

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