SOLUTION: You invest $40,000 to start a nacho stand in a shopping mall. You can make each basket of nachos for $0.70. How many baskets must you sell before your average cost per basket is $1

Question 1140665: You invest $40,000 to start a nacho stand in a shopping mall. You can make each basket of nachos for $0.70. How many baskets must you sell before your average cost per basket is $1.50?
I don't really know where to start! Is there a formula for this?
Answer by greenestamps(13200) (Show Source): You can put this solution on YOUR website!

Your cost is the initial investment of $40,000, plus $0.70 for each basket you make. If x is the number of baskets you make, then your total cost is

The average cost per basket is your total cost, divided by the number of baskets:

You want to know when the average cost per basket is $1.50:

Solve using basic algebra....
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