Sentence:  For the industry of this model , the effect of such public pressures in the past has been to hold the price well below the short-run profit maximizing price ( given the wage rate and the <WSD>level</WSD> of GNP ) , and even below the entry limited price ( but not below average cost ) . 
Meaning of the word marked with <WSD> tags:  a position on a scale of intensity or amount or quality