Scientists have said for years cod was so seriously overfished in European Union waters that were was a risk of extinction due to shock collapse. Why would overfishing occur in this common market?

A) Fishing occurs until marginal social cost per boat equals marginal cost which is ineffiencent

B) Fishing occurs until marginal cost per boat equals marginal benefit which is inefficient

C) Fishing occurs until marginal cost per boat equals marginal social benefit which is inefficient

D) Fishing occurs until marginal social cost per boat equals marginal social benefit which is inefficient