The _____ shows all of the different positions a firm can adopt with regard to adding value to the product and low cost assuming the firm's internal operations are configured efficiently to support a particular position.

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The efficiency frontier shows the different positions a firm can adopt with regard to adding value to the product and low cost, given that the firm's internal operations are configured efficiently to support a particular position. It represents the frontier of best practices in the industry, and any position that lies inside the efficiency frontier is considered inefficient, while any position that lies outside the efficiency frontier is considered unattainable. Therefore, the efficiency frontier is the best choice to represent the different strategic options available to a firm.

The _____ Shows All of the Different Positions a Firm