When natural monopoly is present in an industry, the per-unit costs of production will be

A) lowest when there are a large number of producers in the industry.
B) lowest when a single firm generates the entire output of the industry.
C) lower for small firms than for large firms.
D) minimized at the output that maximizes the industry's profitability.

Natural Monopoly

A market condition where a single firm can supply a product or service to an entire market at a lower cost than two or more firms could, often due to high infrastructure or fixed costs.

Per-unit Costs

The average cost incurred in the production of one unit of a good or service, including both fixed and variable costs.

Number Of Producers

The total count of entities or individuals that manufacture or produce goods and services within an economy.