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Consider the following statements about polysemic words and homonyms found in the Elizabeth I text:
I.The word "court" can mean both royal residence and legal proceeding, requiring contextual analysis for proper understanding.
II."Fair" may refer to physical beauty or justice/equality, depending on the historical and linguistic context presented.
III.Polysemic vocabulary should be taught through isolated definitions, avoiding contextual confusion for beginning learners.
IV.Understanding multiple meanings enhances students' reading comprehension and cultural awareness of language evolution.

Which statements are correct?