confused. google says 'min front page bid: $1.50'. but no ads?

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Hi,

Trying to figure out Google Adwords here... certainly has changed in 8 years (last time I 'really' used it).

a) I'm adding keywords. Google says "below first page bid of $1.50". (Meaning, it seems, it won't show my ad unless I bid AT LEAST $1.50). I go into google, do a search for the keyword phrase -- and there are NO ads.

For example, I have this keyword phrase for a software tool "random name generator". In google adwords, it says "First Page Bid Estimate: $1.25".

I go into google USA... NO ads.

Does this mean that google has come up with some arbitrary price point at which to charge for ads, basically eliminating all profit? (My break-even *purchase* conversion rate is certainly not 24% - which is the type of conversion rate I would have to have in order to just 'break even' on that product)...

Or am I missing something here?

b) Does google do penny ads any more, or are those ancient history? (It doesn't seem from my 1,000+ keywords for various products, that I can really get anything listed unless I bid at least $0.25-$0.30/click...
#$150 #ads #bid #confused #front #google #min #page

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