You’d be asking the bid strategy to manage two different goals against the same inventory, same cut of your program. They would be trying to compete on high value auctions with no way of knowing which strategy to prioritize, while also splitting traffic ‘evenly.’ Just can’t effectively optimize with all those constraints. One of them would suffer.
A/B testing in general on Auction-Time bidding barely works, very hard to keep front end metrics in line with each other (like cost), making performance very difficult to compare.
You gotta just make two unique strategies and deploy against either different Geo’s or different cuts of your program. Campaign duplication with unique geos is probably the best way to get long term answers but probably needs support from someone who can model out matched markets & predicted conversion behavior for each segment to compare against predicted. Just comparing the two against each other can be misleading.
I’d also recommend running without Min / Max CPC thresholds for a while to understand your baseline performance before dropping them in. That said, I do see Min / Max as some semblance of a control lever to try to manage CPC’s, but you’ll be balancing against quality of traffic.
TL;DR – You should Geo-test if possible.