Refer to the figure above. If AD1 shifts to AD2, then the equilibrium output:
Definitions:
Organization
An entity comprising multiple people working together towards a common goal, which can be classified as businesses, government bodies, or not-for-profits.
Industry Trends
Refers to the prevailing directions or developments in any given industry, often determined by consumer behavior, technological advancements, and regulatory changes.
Competitors
Entities, either companies or individuals, that compete in the same industry or market for customers.
Situation Analysis
An assessment of an organization's internal and external environments to understand its capabilities, customers, and business climate.
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