Hi Im a newbie in the PPC world and been reading a lot in this forum for quite some time. Sorry to ask but What do you mean by Smart Priced? Thanks in advance.
You can see a brief explanation of smart pricing at adwords.google.com/support/bin/answer.py?answer=9562 So if Google figures out that you have a Made For AdSense page that doesn't really help the advertisers on the page, they'll lower the CPC accordingly.