The Soda industry is a perfect example of a Monopolistic Competition. This is because this is an industry that has differentiation in their products. Take Pepsi and Coke for instance they are similar but are distinguished as 2 different goods in the market. Also to go into the soda industry has very few barriers.
The ACS 1-year data shows the median family income for Springfield was $74,517 in 2015. Compared to the median Illinois family income, Springfield median family income is $633 higher. As with the median household income data, 2016 family income data for Springfield will be released in September of 2017.
ECONOMY: Springfield, Missouri: United States: Unemployment Rate : 4.30%: 5.20%: Recent Job Growth : 3.57%: 1.59%: Future Job Growth : 42.85%: 37.98%: Sales Taxes : 7.60%: 6.00%: Income Taxes : 6.00%: 4.60%: Income per Cap. $20,540: $28,555: Household Income : $32,473: $53,482: Family Median Income : $42,916: $65,443: POPULATION BY OCCUPATION: Agriculture, forestry, fishing, hunting : 0.35%: 1.35%