(C) Read each statement below carefully. Write TRUE on the line if you think the statement is TRUE. Write FALSE on the line if you think the statement is FALSE. (0 (ii) (iii) (iV) The law of diminishing returns is reflected in the downward-sloping portion of the short-run marginal cost curve. [1 mark] The harmful effects of the pesticide on human health can be considered an external cost. [1 mark] Economic cost is generally lower than accounting cost. [1 mark] Economic cost curves dene the minimum economic costs of producing various levels of output. [1 mark]