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.
In Urbana, IL the median home price is $148,600 and $30,834 is the median household income. As a result, the home price to income ratio in Urbana, IL is 4.8x, which is 57% higher than the Illinois average. In order to determine the home affordability ratio, you would divide the median home price by the median home income.