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3. Identify two of the following types of cost direct costs, sunk costs, marginal costs, externalities, variable costs, operating costs that would be relevant to each of the following situations (note use each type of cost only once, and assign all types of cost): Operating mines Projects Operating mines projects (3 marks) 4. A colleague comments to you that externalities related to a project your company is developing are limited to measurable financial costs to local farmers some of whose land will become unfit for planting, and that benefits including potential revenue from the sale of product to the mine are not externalities because they cannot be quantified indicate whether your colleague is Correct or Incorrect, and provide a brief (1-2 sentence) explanation