Question

Some years ago, two intercity bus companies, Greyhound Lines, Inc. and Trailways Transportation System, wanted to merge. One possible definition of the market in this case was "the market for intercity bus service." Another possible definition was "the market for intercity transportation, including personal cars, car rentals, passenger trains, and commuter air flights." Which definition do you think the bus companies preferred, and why?

Answer 1

Answer:

The second definition

Explanation:

The bus companies would have preferred the second definition because it's a broad definition and shows their complete product line and facilities. The first definition is a hollow definition that does not show a complete range of facilities the companies are going to offer to it consumers after the merger, and it just shows that they have a facility for just intercity services.