Scientists have said for years cod was so seriously overfished in European Union waters that there was a risk of extinction due to stock collapse. "To ensure this recovery… Ministers agreed a 10 percent cut in days at sea (for North Sea cod)," EU Fisheries Commissioner Joe Borg stated in 2008. What is the goal of this policy?
A) To reduce the number of fishing days to the point where marginal cost per day equals marginal benefit
B) To reduce the number of fishing days to the point where marginal social cost per day equals marginal benefit
C) To reduce the number of fishing days to the point where marginal social benefit per day equals marginal benefit
D) To reduce the number of fishing days to the point where marginal social cost per day equals marginal social benefit

Question

Quizplus · Accepted Answer

The goal of the policy is to achieve a balance where the marginal social cost of fishing (including the impact on fish stocks and the environment) equals the marginal social benefit, ensuring sustainable fishing practices.

Scientists Have Said for Years Cod Was So Seriously Overfished