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 $633 higher. As with the median household income data, 2016 family income data for Springfield will be released in September of 2017.
Based on the data from 2000 / 2015 when the population of Springfield, Illinois was 111,454 / 117,809. Median household income in 2015 ($) Change in household income between 2000 and 2015 (%) Median non-family household income in 2015 ($) Change in non-family household income between 2000 and 2015 (%)