Response:
5.8%
Detailed reasoning:
For the business,
retail space rental = $2400
wages = $1800
utilities = $480
Total operating cost = $4680
However,
retail space rent decreased by 5%, which results in;
5% of $2400 = 0.05 x $2400 = $125
The new rental amount for retail space = $2400 - $125
= $2275
wages were lowered by 6%, calculated as;
6% of $1800 = 0.06 x $1800 = $108
The revised wages = $1800 - $108
= $1620
Utilities experienced a 7% increase, calculated as;
7% of $480 = 0.07 x $480 = $33.6
The adjusted utilities cost = $480 + $33.6
= $513.6
New total operating costs = $2275 + $1620 + $513.6
= $4408.6
The percentage change in monthly expenses =
x 100%
=
x 100%
= 5.8%