Adwords Max CPC vs Actual CPC - Google Digital Marketing 7

What is Max CPC?

You will pay single click, as it is an option you can pay less than the maximum. 

The minimum bid - The minimum bid is set by Adwords,  this is a minimum pay to have an ad appear for particular keyword. Previously the minimum bid is quality based, the higher the quality score of that keyword the lower the minimum the bid for that keyword

Ref -https://adwords.google.co.in/select/AfpoFinder?currency=INR&country=IT

The max CPC you set helps determine your ad's position among the other ads on search results pages in the Search Network. If you run your ads on the Display Network, your max CPC plays the same key role there. In both cases, raising your max CPC will probably increase your ad's chances of appearing.

Actual CPC

Your actual CPC commonly less than the Max CPC