Based on the description of the graph, we can derive the following:
- The population in 1850 is estimated to be closer to 100 million, as the population in 1700 started at 90 million and reached around 120 million by 1900 with slow growth initially.
- Steel consumption began in the year 1860, which means that in 1850, there was no recorded steel consumption yet.
Given this information, the most accurate conclusion is:
The population was around 100 million and steel consumption began.
However, since steel consumption had not yet begun in 1850, this is not a possible selection.
Therefore, the closest and correct inference you could make based on the options provided would be:
The population was around 100 million and steel consumption began.
(Note that since the provided responses seem to indicate a misunderstanding in the phrasing, please carefully choose the one that aligns with the interpretation that the population was approximately 100 million, and steel consumption was not yet initiated.)