How are prices for ordinary objects determined by corporations?
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The formula for price is simply:
Price = Cost + Profit
Now, this is easier said than done. A corporation will have to adjust the cost and profit inputs based on the current market landscape. If demand is low for their product, they will have to reduce their profit or cut custs or both to get the price to a level that would make the product attractivly priced enough for consumers to buy it.
This is done by conducting market research. A company may analyze what the average price is for the same or similar product on the market and conduct studies and surveys/focus groups to see what consumers think about their product and how much they would be willing to pay for it.
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