Select the correct definition of the term "comparative advantage." the ability to produce a good or service at a lower opportunity cost than another the ability to produce a good or service at a higher opportunity cost than another a nation offering more favorable trade policy with its allies than with other countries the ability to produce less of a good or service than another over a specified time period the ability to produce more of a good or service than another over a specified time period

The correct answer is: the ability to produce a good or service at a lower opportunity cost than another.

Explanation:

Comparative advantage implies the ability to produce a good at lower opportunity cost. Opportunity cost is the cost of giving up the alternative.

A nation is considered to be enjoying a comparative advantage in the production of a good if it can produce the good at a relatively lower opportunity cost than other nations.

A nation is said to be specializing in the production of a commodity if it has a comparative advantage in production.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o

107x106 is the answer