It comes down to a matter of aspect ratio... a high aspect ratio wing is an approximation of a 2D wing, and will have the least induced drag for the total amount of lift that it produces. In that case, parasite drag dominates.

All that we have been saying thus far is that a higher effective aspect ratio will give you lower drag for the amount of lift that you are getting. Extending the wing out does this, as does adding an engineered tip.

The opposite of this is a low AR wing like a sharp delta wing. In this case, there is quite a bit of induced drag from very powerful tip vortices.