Stuck on how to price my baked goods

I'm thinking of selling 3.5×3.5 (5oz) square cake tins with buttercream, drizzles, crumbles, etc. My target customers are high school students at my high school (3500-4000), a little below middle class. My ingredients and packaging will be around $7-8 per batch and one batch yields 15 cake tins. Would $5 for a cake cost too much for high school students? Should I sell them for $4 instead? I don't want to under charge myself but at the same time I'm scared people wouldn't buy it if it's $5. Advices needed thank you very much!

Alternative idea is to sell the 2.5×6.5 (6.2oz) rectangular cake tins that looks (and is) bigger, but it would yield 12 cake tins per batch and many people online charge it for $7-8 for profit but I think $5 will be my max since I doubt anyone at school would wanna buy a cake tin for $7. If I sell this 6.2 oz cake tin I'm also afraid of undercharging myself 😭😭😭please talk me through it💕💕

about what my products would look like