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I believe this is true. But make sure you read this and understand that there is very little correlation between average position and conversion rates.
However, it will have an impact on your cost per acquisition. If your in a higher position you will pay more per click and vice verse for a lower position. If you are in a market where you have a surplus of traffic, then there is really no need to bid for top position, but if there is a shortage, then its the other way around.
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