Business Costs Homework DIRECTIONS There are three parts to this assignment. On the first section, identify two fixed cost items and two variable cost items for each business. On the second section, complete the cost schedule in the provided table. On the back, calculate the three different short run ATC curves from the provided data. Decide which level of output minimizes cost. I) LIST OF BUSINESS COSTS A) Steel Manufacturing Company B) Seafood Restaurant 1) Two Fixed Cost Items 1) Two Fixed Cost Items 2) Two Variable Cost Items 2) Two Variable Cost Items 2) BUSINESS COST SCHEDULE The table below lists the costs for a shoe company. The fixed costs are the machines, and the variable costs are labor and materials. Fill in the empty cells. Output (Shoes) Fixed Variable Costs Costs Total Cost AFC AVC ATC Marginal Cost $100 $3 103 2 $ 100 $6 106 3 $100 $12 4 $100 $24 124 5 $100 $48 148 6 $ 100 $96 196 $100 $192 292 8 $100 $384 484