Sentence:  We are abstracting from the fact of strikes here , but it should <WSD>be</WSD> obvious that the extent to which the public limit price is raised by a given increase in the basic wage rate is also a function of the show of resistance put up by the industry . 
Meaning of the word marked with <WSD> tags:  have the quality of being; (copula, used with an adjective or a predicate noun)