Answer: A natural monopoly occurs when "C. there are economies of scale over the relevant range of output.".
Explanation: A natural monopoly arises when there is a total absence of competition, because said company can supply the market at a lower cost and with a higher quality than if there was competition.
The characteristics that this market can present are:
A very high level of investment is required (Economies of scale)
Use of natural resources, which are located in few places on our planet.
Patents that protect technological innovations
