Option 1 -> Incorrectly matches Total variable cost with TR - (TVC + TFC), which is the profit formula.
Option 2 -> Incorrectly matches Total Revenue with Average variable cost × Quantity, which is the TVC formula.
Option 3 -> Incorrectly matches Profit with Price × Quantity, which is the Total Revenue formula.
Option 4 -> Correctly matches all formulas with their respective concepts.
Hence, Option 4: (A) - (III), (B) - (IV), (C) - (I), (D) - (II) -> (A) Total Variable Cost = Average Variable Cost × Quantity - TVC is calculated by multiplying per unit variable cost with quantity produced. (B) Total Revenue = Price × Quantity - TR is the total income from selling goods. (C) Profit = TR - (TVC + TFC) - Profit is revenue minus all costs (variable and fixed). (D) Marginal Cost = TVCₙ - TVCₙ₋₁ - MC is the additional cost of producing one more unit, calculated as the change in total variable cost between consecutive output levels. -> correct