In Facebook, like nearly all PPC platforms, you can set the maximum bid you are willing to pay for a click. You don’t manage click cost with your daily budget limit, you control it with your maximum bid by selecting to “Manually set your maximum bid for clicks (CPC)”. If you select the “Automatically optimize your bid to get more clicks” option then yes Facebook will manage your bids to max out your ad spend. So, using manual bidding, you could set the max CPC to say $0.50 and your average will be something lower than $0.50.
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