The correct answer is option 1 - Nagarjuna. Madhyamika Karika is indeed the fundamental text of the Madhyamika school of Buddhism, and it was composed by Nagarjuna.

Nagarjuna was an influential Indian philosopher and one of the most important figures in the development of Mahayana Buddhism. He lived in the second century CE and is often regarded as the founder of the Madhyamika school, which is known for its emphasis on the concept of "emptiness" (shunyata).

In Madhyamika Karika, Nagarjuna presents his philosophical arguments and teachings. The text explores the nature of reality and challenges the inherent existence of phenomena. Nagarjuna`s approach is characterized by the use of logical reasoning and the rejection of extreme positions. He argues that all phenomena are empty of inherent existence and that clinging to conceptual and dualistic views leads to suffering.

It is important to note that while Asanga, Vasubandhu, and Dharmakirti were influential Buddhist philosophers and scholars, they are associated with other schools of Buddhism and did not compose Madhyamika Karika.