As an avid reader, I would never buy a book for more than $8.00 even if it was award winning or ground breaking. Personally, from a reader's POV I like to see books under the $10.00 range otherwise regardless of quality, I would look elsewhere for cheaper books even going so far as to get out my Kindle which I hate reading from (I prefer hard copies). Often if a book comes out that's hyped to be fantastic, and it costs a lot I would wait a year until it's available cheaper. Perhaps this explains the lack of sales on print books.
But don't take my word for it.
I'm addicted to reading, even the ingredients on a food label if its in front of me, and my monthly fiction/nonfiction book purchase's route is the Salvation Army for the old $1 books, my favorite used book store for $5+ books and then Indigo for the sale or full priced new releases of authors I truly look forward to reading. I order from Amazon when I am searching for a specific titles that I either can't find locally like an indie book or can't wait until my monthly book run to purchase -most recent was an out-of-print book on English etymology that cost a whopping dollar but $18 for shipping. So, I'll pay almost nothing for books when I can, and pay full pop for books from my favorite current authors. The major demographic of my readers, the ones who enjoy character driven novels that offer a good laugh followed by a good cry, are folks above forty, and there are few books like my novels with one big seller only have came out at the end of 2014 and another last November, and none offer a series. So with that, I think it allows me to charge a higher price, though not as high as a trad-pub author. Now if my books were in a heavily populated genre like mystery, romance and sci-fi, I would have to have a different pricing strategy.
My paperback is $14.99 and I could shave it lower but not by much. This is for a 102k word book with reasonable font size. I could always try to make it microscopic to bring the book price down a little but sheesh, nobody wants to read the fine print (ok, bad pun). To compensate, I make the ebook free if you buy the paperback. It's the best I can do. I can only hope that people who don't want to pay a lot for books will buy my ebook or borrow it from KU. I've tried to compromise with what I feel is decent pricing vs book length.