Elimination of hydroxyl group while deprotecting acetal
As I said in the comments, it entirely depends on the conditions. It is easy to select mild conditions to cleave the dioxolane. Elimination would require very strong forcing conditions (concentrated acid and heating). The first site of protonation is the carbonyl, so you would form the hemi-acetal of the product long before elimination or substitution occured at the primary alcohol. If you were foolish enough to heat this with cH2SO4 then you could get elimination of the primary alcohol and generate quite a mess.