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if you are considering only MPG, the 4 cylinder will be quite a bit more efficient at lower rpms as it has a LOT less surface area for the combustion chamber.
if you are considering only horsepower, the 8 cylinder will probably make more ultimate horsepower as there is more circumference of the valves for more air flow.
if you are after horsepower, some people will pay a lot of money to have more horsepower, so there is a hope the added complexity and prices will be overcome by a higher sales price.
if you are after economy, then you are selling to people who want to save money (be cheap) so saving production costs is paramount.
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