I am trying to make a Graph API call on Meta to set the bid adjustment / bid multiplier values for my ad set, to add location and age targeting. But I get the following error:

{
  "error": {
    "message": "(#3) Application does not have the capability to make this API call.",
    "type": "OAuthException",
    "code": 3
  }
}

What permissions should I be requesting for the app to enable this? The app is in Live mode and has the default permissions with standard access.

Thanks