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I would think $.75 (maybe even $1) for just an unfilled, red velvet cupcake sounds about right. Do you make scratch cakes or box mixes? If it's a box mix I might go cheaper. I think the rule of thumb is ingredients costs (include everything, even liners) times 3.
I fine mini cupcakes to still take a lot of time. You still have to decorate them, and even though they bake faster and cool faster, they don't save me any time over regular cupcakes.
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