To solve this problem, we need to analyze the given statements:$\newline \bullet$Statement I: Gause's Competitive Exclusion Principle states that two closely related species competing for the same resources cannot co-exist indefinitely and the competitively inferior one will be eliminated eventually.$\newline$ - This principle is well-established in ecology and suggests that when two species compete for identical resources, one will outcompete the other.$\newline$ - Therefore, Statement I is correct.$\newline \bullet$Statement II: In general, carnivores are more adversely affected by competition than herbivores.$\newline$ - This statement is not universally true. The impact of competition can vary widely among species and ecosystems.$\newline$ - Both carnivores and herbivores can be affected by competition, but it is not accurate to generalize that carnivores are more adversely affected.$\newline$ - Therefore, Statement II is false.$\newline$Based on the analysis, the correct answer is:$\newline$Option 3: Statement I is correct but Statement II is false.