1. **Stating the problem:** We have a 2.3 kg block of mozzarella cheese that costs 394.75. We want to find the cost of 500 g of the same cheese. 2. **Formula used:** To find the cost of a smaller amount, we use the unit price and multiply by the desired weight. 3. **Calculate the unit price:** $$\text{Unit price} = \frac{394.75}{2.3}$$ 4. **Calculate the unit price with cancellation:** $$\text{Unit price} = \frac{394.75}{\cancel{2.3}} \approx 171.63$$ 5. **Convert 500 g to kg:** $$500\text{ g} = 0.5\text{ kg}$$ 6. **Calculate the cost for 0.5 kg:** $$\text{Cost} = 171.63 \times 0.5 = 85.815$$ 7. **Final answer:** The cost of 500 g of mozzarella cheese is approximately 85.82.