If you ever start a business selling anything at all, the very first thing you will need to realize is that you never base prices on how much something costs.
You base prices on what people are willing to pay.
Like most business advice this sounds good as a one-liner, but isn't super accurate. There are lots of businesses that need to evaluate price elasticity and substitution which is more than finding the right point on the demand curve.
You base prices on what people are willing to pay.