Spend some time in business and you'll learn that pricing is entirely vibes. If you start from first principles, you'd just take the cost to make the product, add a fixed percentage of that, and make your fortune, and that works in a limited amount of places. The real world is messier than that though, so one fixed formula won't cover all your bases.
Naturally, you do want to make profit from each sale, but first off, can you, and secondly, how much? If it's something that took years of R&D to develop, then you'll want to amortize that over a longer period of time, and not try and recoup that the instant you have something to sell. If you're dropshipping someone else's product, then you can't price it all that high because your competition is also going to be pricing it with fairly low margins. (Or they're not, and you can undercut them.)
Interestingly, in support of vibes-based pricing, and in direct contraction of Econ 101, sometimes raising the price on something increases it's percieved value, as being too cheap makes it seem like a worse value or lower quality.