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.
About Rockford Salaries. In Rockford, Illinois, the average salary is $45,782. As of Q2 2017, the trend in wages is going up with a 1.5 percent increase over last quarter. The cost of living in Rockford is 10.4 percent less expensive than the national average. Popular jobs in Rockford include Office Manager, Operations Manager, and Mechanical Engineer which pay between $42,630 and $67,102 per year. Some popular Rockford industries include Manufacturing, Aerospace and Defense, and Health Care.