According to the docs:
(mc) mine-conflict - accept my version for all conflicts (same)
(tc) theirs-conflict - accept their version for all conf
mine-conflict will use your code in every conflict situation, but still do regular merging in all other situations.
mine-full will use your entire file, throwing away all changes in theirs.
The 'conflicts' version will use the specified copy for the conflicts only, letting the normal merge work for any other changes.
Using the 'full' version will use the entire file as specified, disregarding the results of the merge.
http://svnbook.red-bean.com/en/1.8/svn.tour.cycle.html#svn.tour.cycle.resolve