Answer:
Shifted down 4 units.
Explanation:
The translated graph is given by

The parent function is y = log x
We know the below rule of transformation of graph:
Rule: If a function f(x) is translated "a" units downward then the translated function would be f(x)-a
Here, log x is translated as log x - 4 which means a = 4
Hence, from the above rule, the graph of the function y = log x will be translated 4 units downward to get the graph of log x - 4
Therefore, last option is correct.