all of the above.
@OP: do remember that these are very simple executed OPE engines, other than compression release, there's no sophisicated cam profiles, VVT, etc. and a simple 1 valve per intake/exhaust setup. So the torque curve (peak) is a simple, if not traditional type where there's a predefined output (horsepower) peak and also a separate torque peak.
While I cannot tell you exactly where the torque peak on these OPE engine lies, one thing for certain though: because these are general application engines (OPE engines on power washer, all sizes mowers, etc.) for certain types of execution your OPE engine may not be running at it's peak (peak torque or peak output)...but just below or slightly above it.
At the end: these so-called torque figures published by OPE engine manufacturers is "moot" and it's really up to the consumer to find out if such engine has been "optimized" for the application to get max. efficiency given the application.
My 2'cs worth.
Q.