Pizza King (PK) and Noble Greek (NG) are competitive pizza chains. Pizza King believes there is a 25% chance that NG will charge $6 per pizza, a 50% chance NG will charge $8 per pizza, and a 25%...

Pizza King (PK) and Noble Greek (NG) are competitive pizza chains. Pizza King believes there is a 25% chance that NG will charge $6 per pizza, a 50% chance NG will charge $8 per pizza, and a 25% chance that NG will charge $10 per pizza. If PK charges price p₁
and NG charges price p₂, PK will sell 100 +25(p₂
– p₁) pizzas. It costs PK $4 to make a pizza. PK is considering charging $5, $6, $7, $8, or $9 per pizza. To maximize its expected profit, what price should PK charge for a pizza?