You own a small business that sells baseball caps. You're set to run your first Performance Max campaign that uses a set budget. How does the system allocate budget on a Performance Max campaign?

Performance Max campaigns are designed to automate and optimize ad delivery across all Google channels (Search, Display, YouTube, Gmail, Discover, Maps). The system automatically allocates your budget across these channels based on where it predicts the best performance to achieve your conversion goals. This means you don't manually set budgets for individual channels within a Performance Max campaign, nor do you need separate campaigns for each channel. The campaign itself acts as a unified entity, and Google's AI determines the optimal budget distribution to maximize your return on ad spend. The other options describe manual budget allocation or the need for separate campaigns, which contradicts the automated, unified nature of Performance Max.