Given, Abby can buy an 8-pound bag of dog food for $7.40.
The cost of one pound bag when 8-pound bag of dog food for $7.40 is,
Given, 4-pound bag of the same dog food costs $5.38.
Therefore, the cost of one pound bag when 4-pound bag of dog food costs $5.38 is,
Since the cost of one pound bag has a smaller value(=0.925) when an 8-pound bag of dog food is bought, buying an 8-pound bag of dog food for $7.40 would be the best deal.