Cost-per-thousand impressions (CPM) bidding is only available for:

accounts that are using prepay billing
campaigns that target the Google Display Network
accounts using U.S. Dollars for billing currency
campaigns that target search partner sites

The correct Answer is:

campaigns that target the Google Display Network

Explanation: CPM bidding means that you pay based on the number of impressions (times your ads are shown) that you receive on the Google Display Network.

Read more here: https://support.google.com/adwords/answer/6310?hl=en

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Cost-per-thousand impressions (CPM) bidding is only available for:

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