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Easy. Cost of production * 3.14. If that price isn't competitive either take less profit or find a way to limit costs without offering a lesser product than before.



So basically change "cost of production" and "3.14" until it works?


Only if by "change" you mean reducing them.


Fair enough, but what if the price is too competitive? You can then increase the quality of your product, or your margin.

In any case, that formula doesn't mean much if you need to adjust it to a fixed, competitive price point.


How did we arrive at using pi as a multiplier?


It's a thing in hardware design when people would make embedded/IoT devices to sell.

https://www.youtube.com/watch?v=UwrkfHadeQQ


It's how IBM priced hardware IIRC.




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