2. Study Questions and Pro3. Study Questions and Problems #4 Which of the following most accurately explains the issue in the Supreme Court's interpretation of "monopoly versus monopolizing"? The rule of reason states that monopoly is illegal only if firms engage in interlocking directorates. The per se rule states that monopoly is illegal only if firms collude internationally. The per se rule states that monopoly is not illegal unless it engages in illegal business practices. The rule of reason states that monopoly is not illegal unless it engages in illegal business practices.blems