1. What are the three stages in strategic management? Which stage is more analytical? Which relies most on empowerment to be successful? Which relies most on statistics?

strategic management: strategy formulation, strategy implementation, and evaluation and control.

The price ceiling on this graph indicates  an effective price floor set below equilibrium causing a shortage.

This is described in economics to be the maximum amount that the producers or sellers of goods are permitted to charge for their goods and services.

The price ceiling shows that the the price was set below what is the equilibruim price hence the producers have stopped providing the good.

Read more on price ceiling here:

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