Which Render As Format are you looking at ?
I will assume you are looking at Mainconcept AVC/AAC.
The default setting of 24,000,000 Maximum and 12,000,000 Minimum is a good default setting.
This does not mean that the entire video will be 24 Mbps. It simply means that a range of 24 Mbps to 12 Mbps is available for encoding.
Higher bit rates are good for video that has lots of fast action in it, whereas a video image that is very still (like a person being interviewed sitting in a chair) will use a much lower bit rate to encode a good quality image.
It is all about experimentation.
You can try higher and lower settings, and see what you like the most.
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