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.
Illinois $15 minimum wage clears House committee. Seth Perlman / AP. Politicians gather in the Senate chambers at the Illinois State Capitol in Springfield Ill., in this 2015 file photo. A proposal to slowly raise Illinois' minimum wage to $15 an hour cleared a House committee Wednesday despite business concerns. The House Labor and Commerce Committee voted 17 to 6 to recommend HB 198, which would increase the state's hourly minimum wage from its current level of $8.25 to $15 by 2022.