The point of minimum average cost at which the supply curve cuts the long run average cost curve is called?

Break Even Point.

The correct answer is Option (3) → Break Even Point.

In the long run, under perfect competition, the firm operates at the minimum point of the long run average cost curve. At this point, the firm earns only normal profit, meaning total revenue is equal to total cost. This situation is known as the Break Even Point.

• Option 1 : Super Normal Profit — Incorrect. This occurs when the market price is above the average cost, allowing the firm to earn profits higher than normal profits. Therefore, it is not the point where the firm just covers its costs.
• Option 2 : Opportunity Cost — Incorrect. Opportunity cost refers to the value of the next best alternative foregone when a choice is made. It is a general economic concept and not a point on the cost curve.
• Option 4 : Shut Down Point — Incorrect. This refers to the point where price becomes equal to the minimum average variable cost in the short run. Below this point, the firm stops production because it cannot cover even its variable costs. 

NCERT " The minimum level of profit that is needed to keep a firm in the existing business is defined as normal profit. A firm that does not make normal profits is not going to continue in business. Normal profits are therefore a part of the firm’s total costs. It may be useful to think of them as an opportunity cost for entrepreneurship. Profit that a firm earns over and above the normal profit is called the super-normal profit. In the long run, a firm does not produce if it earns anything less than the normal profit. In the short run, however, it may produce even if the profit is less than this level. The point on the supply curve at which a firm earns only normal profit is called the break-even point of the firm. The point of minimum average cost at which the supply curve cuts the LRAC curve (in short run, SAC curve) is therefore the break-even point of a firm.".