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.
The median home value in Springfield is $105,000. Springfield home values have gone up 2.0% over the past year and Zillow predicts they will rise 4.2% within the next year. The median price of homes currently listed in Springfield is $119,900. The median rent price in Springfield is $850, which is the same as the Springfield Metro median of $850. Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment.