Final answer:
Travel agents act as middle persons offering travel counseling on behalf of various travel services; they do not organize tours but promote travel options. In the context of a bus company merger, a broader definition of the market would be preferred to minimize the appearance of a monopoly.
Step-by-step explanation:
Travel agents typically act as a middle person, working as a travel counselor on behalf of airlines, cruise lines, and hotels (option c). They do not necessarily organize tours but promote various travel-related services and help facilitate the booking process for clients. Their role involves advising clients, helping to arrange travel logistics, and sometimes tailoring travel packages to meet the specific needs of their customers.
In the case of the two intercity bus companies, Greyhound Lines, Inc. and Trailways Transportation System, wishing to merge, the preferred market definition would likely be the market for intercity transportation, including personal cars, car rentals, passenger trains, and commuter air flights. This broader definition would likely be preferred by the bus companies as it would show the merger in a less monopolistic light, emphasizing the availability of many competitive options for consumers, potentially making regulatory approval for the merger easier.