Please explain what the paragraph means ? which is very confusing

The preceding discussion made clear that the relevant question is not whether monopoly is efcient in comparison with some unattainable theoretical ideal, but how it compares with the alternatives we actually confront. This question is nowhere more important than in the case of natural monopoly. Consider the natural monopoly depicted in W. Here, a profit- maximizing monopolist would produce at Q*, which is less than the efficient output of Q**. We can still, therefore, talk of a deadweight loss from monopoly (equal to area S in W). Note, however, that output Q** is only possible if there is a monopoly firm. Moreover, any rm that produces output Q** will make an economic loss. Competition, therefore, is not the answer. FIGURE 13.15 A Natural Monopoly The two main objections to single-price natural monopoly are that it earns economic prot (11) and that it results in the loss of consumer surplus (S). Policymakers may respond in a variety of ways to the inefciency of a prot-maximizing natural monopolist. The ve options considered below account for the most important alternatives