In the small town of Wellsville, there is only one grocery store. Given that everyone needs food, we would expect that this grocery store:

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Since everyone in the town needs food, the demand for groceries is relatively inelastic. However, the presence of only one grocery store does not necessarily mean it has a monopoly. The store may still face competition from nearby towns or online retailers. Therefore, the grocery store is likely to price competitively to attract customers and retain their loyalty.

In the Small Town of Wellsville, There Is Only One