What is AdSense for content? - AdSense Help: "Google places relevant cost-per-click (CPC) and cost per thousand impressions (CPM) ads in the same auction and lets them compete against one another. The auction takes place instantaneously and when it's over AdSense will automatically display the ads that will generate the maximum revenue for a page -- and the maximum revenue for you.
Keep your users coming back with contextually targeted ads. You want to make more money from advertising, but you don't want to show irrelevant ads to your users. AdSense solves this problem by automatically delivering text, image ads and link units that are precisely targeted to your site and your site content -- ads so well-matched that your readers will actually find them useful."
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