Question 2 True or False? Both horizontal and vertical territorial restrictions are considered per se violations of the Sherman Act. True. O False. Question 3 Which of the following might be viewed as evidence that a trade association violates the Sherman Act under the "rule of reason" analysis? O That trade association is formed in a highly concentrated industry. O That the members of the association plan to lobby Congress for more lenient regulation of the industry. OThat the members of the trade association plan to engage in joint advertising efforts on behalf of the industry generally. O All of the above.