I want to bid for first place ranking on keywords. If no one else is bidding on any of these keywords I want to pay 1 cent and one cent only. I heard that sometimes when this happens google will not show your ranking you are paying for. What is the minimum amount of traffic need to show 1 penny adwords campaigns for keywords no one is paying for?
There's a common misconception: Many advertisers believe that if they have no competitors for a keyword, their minimum cost-per-click (CPC) will automatically be lowered by the AdWords system to $0.01, the lowest possible CPC.
How it actually works: The minimum CPC for a keyword is not related to the number of competitors one has that keyword. Instead, minimum CPC is dependent on the Quality Score of the keyword, as it's used in the advertiser's account. Google has a minimum threshold you need to meet in order your ads be able to show.
If you look for your ad and see no competitors, this does not necessarily mean that there are no others advertising on that keyword. For example, many advertisers choose to show their ads only during particular times of the day, so you will not necessarily see them when your ad appears. Or, while you might be targeting the entire United States, competing advertisers may be regionally targeting and not including the area in which you are located -- in which case you'll not see their ads.
Read more:- http://adwords.blogspot.ae/2007/10/common-misconception-revisited.html