i just hear my Dad saying, “well what can you get people to pay?” That’s your price
That's my approach for the most part.
When you're starting out and trying to get into the market/build a customer base, it's a good idea to price things low enough that people will buy them out of curiosity. Don't lose money, but consider the first few batches of units sold part of a marketing campaign and accept that as a cost of doing business. When people have had a chance to try them out and decide that they like them, they'll (hopefully) determine that the pedals are a "great deal for the price" and the demand will start to go up as word gets out, and you can slowly raise prices.
One way a friend of mine did this was every time he released a new product he would list the price he wanted to sell it at eventually then "put it on sale" for 25% off or so for the first few months until interest starts in.
It's important to know how much the components of each unit costs and how much time it takes to put together and you can use that as a metric to determine if something is worthwhile, but it can be a balancing act. If there's a pedal that takes $80 of parts and takes 3 hours to build but customers can buy a competing alternative for $150, you're going to have a hard time making that pedal make sense. You can also use this to figure out if there are ways to cut costs or cut labor times. All of my "production" pedals use pick-and-place assembled SMD boards, which is obviously a HUGE time savings. At my peak of hand-assembly I could place components for my most popular pedal in about 15 minutes, but as I've gotten more experienced I value my time more. It only costs me about $4-5 extra per board (with large-ish quantities of course) to get them assembled, and I consider 15 minutes of my time to be worth far more than $5.
As an example, a common pedal I make requires about $40 in components, and I've gotten to the point that if I'm focused and not distracted, I can build one in under 20 minutes. I sell this pedal for $180. Am I charging $420 per hour for my labor? Not really, because I have to cover things like my electricity bill to keep the lights on and machines running, I have to cover the time it takes to box up and ship the pedal as well as the packaging materials, I have to cover the time it takes for me to go to the post office every day to drop things off. I also spend a lot of time answering emails and responding on forums and social media to keep customers happy and get potential customers interested, and I'm never going to get paid directly for that.
Also, I can build a pedal in less than 20 minutes, but guess how many hundreds of hours I spent practicing to get to that point? There's also the point that I spent time designing the circuit board, but also I spent years of work and thousands of dollars in wasted materials getting to the level of proficiency that allows me to design circuit boards that work as well as they do.
This answer got a lot longer than I originally planned, but the summary is: you need to price the product where a consumer will consider it worthwhile, but don't undervalue your time and your skills. If you're at the level where you can build something worthy of being sold, you have skills that most don't, and that's worth something.
. Plus, even if you undercut yourself, there is no shortage of hot garbage builds in blank enclosures built on your pcbs Robert that will sell for 10 dollars less than my rock bottom price. There is a whole sea of pedalpcb builds out there selling for what looks like just parts. How they making any money 
