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.
Mark Swartz works close to fifty hours a week to make a living to support his family at his barbershop on 14th Avenue in Rock Island. He says the $73,000 average salary for state prison barbers in Illinois is out of line. That sounds like an overpaid barber.That's a lot of money for this line of work.You'd have to cut a lot of hair, he said.e says the average barber in the private sector makes between $35,000 to $50,000 a year. He says when you add in the pension for state workers with the annual three percent increase, there is an increasingly great divide between public and private sector workers.