C

Step 1: Calculate the average velocity between point A (0,2) and another point P (x,y) on the graph.
Average Velocity (V_{avg}) = \frac{(y_P - y_A)}{(x_P - x_A)} = \frac{(y - 2)}{(x - 0)} = \frac{y - 2}{x}.
Step 2: Identify the instantaneous velocity, which is the slope of the tangent line at point P (x,y).
Step 3: The instantaneous velocity should equal the average velocity calculated in step 1.
Step 4: By analyzing points (1,4), (5,3), (3,4), (4,1), we find that at point (3,4), the slope of the tangent aligns with the average velocity calculation.
Thus, the coordinates of the point where instantaneous velocity equals the average velocity are (3,4).
Therefore, C.