It's not an attempt to fool the kid as much as it is an attempt to set a reasonable average price for what should be paid. Whether it's getting your foot in the door or predatory pricing, the industry will continue to suffer until the morons who are pricing below cost (or taking work below cost because that is the reality for most inexperienced contractors) finally go under or realize their survival is at stake.
Know your costs, add in your profit margin--which is influenced by such things as competitive pressure, growth objectives, etc.--and stick to your guns. It's better to go broke staying at home with your family than go broke and loose your family. That's what it seems to boil down to anymore.
Asking the rest of the world what your price should be just tells me you've got a lot to learn about business. Do us all a favor and just stay out of the business. But then again you'd probably be some VP for Mastec and still bid too low.
This is CABL.com posting #246894. Tiny Link: cabl.co/mbcok