The monthly cost of running a small business consists of retail space rental at $2400, wages at $1800 and utilities at $480. If

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%