Final answer:
The midbrain houses the reticular formation, which is responsible for controlling alertness and attention and plays a key role in regulating states of consciousness, including the sleep/wake cycle.
Step-by-step explanation:
The midbrain contains the headquarters of the reticular formation, a specialized component of the reticular formation that controls alertness and attention. The midbrain, situated between the forebrain and the hindbrain, is part of the brainstem and plays a crucial role in various functions, including regulating the sleep/wake cycle, arousal, and motor activity. The reticular formation, in particular, extends throughout the brainstem and is vital for maintaining different states of consciousness and affecting general brain activity.