Option 1 -> This indicates profit situation where revenue exceeds cost.
Option 2 -> This indicates loss situation where cost exceeds revenue.
Option 3 -> This indicates break even point where revenue equals cost.
Option 4 -> This is not related to break even concept.
Hence, Option 3: Total Revenue (TR) = Total Cost (TC) -> The break even point is the level of sales or production at which total revenue exactly equals total costs, resulting in neither profit nor loss. At this point, the business covers all its fixed and variable costs but does not generate any profit. This is a critical metric for businesses to determine the minimum sales volume needed to avoid losses. -> correct