Select the correct definition of the term "comparative advantage." the ability to produce a good or service at a higher opportunity cost than another the ability to produce a good or service at a lower opportunity cost than another the ability to produce less of a good or service than another over a specified time period a nation offering more favorable trade policy with its allies than with other countries the ability to produce more of a good or service than another over a specified time period When trading with more developed countries, less developed countries have a comparative advantage in the production of all goods or services. less developed countries do not have a comparative advantage in the production of any goods or services. less developed countries have a comparative advantage in the production of some goods or services.
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