If a firm introduces a new product that is a potential substitute for an existing product. which of the following is true for the firm? They can maximize their profits by raising the price on the product with relatively elastic demand and reducing the price on the good with relatively inelastic demand ) They can maximize their profits by raising the price on both goods, with the larger price increase on the product with relatively inelastic demand. They can maximize their profits by raising the price on both goods, with the larger price increase on the product with relatively elastic demand. O They can maximize their profits by raising the price on the product with relatively inelastic demand and reducing the price on the good with relatively elastic demand