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 level of <WSD>GNP</WSD> ) , and even below the entry limited price ( but not below average cost ) . 
Meaning of the word marked with <WSD> tags:  former measure of the United States economy; the total market value of goods and services produced by all citizens and capital during a given period (usually 1 yr)