The concession stand at the high school football stadium sells hot dogs and hamburgers to raise money for the high school athletic programs. Each hot dog sold earns the programs $0.50, and each hamburger sold earns $0.75. This week, the concession stand sold a combination of 230 hot dogs and hamburgers and earned $138.50 for the athletic programs. If x represents the number of hot dogs sold and y represents the number of hamburgers sold, which system of equations represents this situation?

The number of hot dogs sold is represented by x and the number of hamburgers sold is represented by y.

Each hot dog sold earns the programs $0.50, so the total earnings from hot dogs can be represented by 0.50x.

Each hamburger sold earns the programs $0.75, so the total earnings from hamburgers can be represented by 0.75y.

The total number of hot dogs and hamburgers sold is 230, so the number of hot dogs (x) plus the number of hamburgers (y) is equal to 230.

The total earnings for the athletic programs is $138.50, so the total earnings from hot dogs (0.50x) plus the total earnings from hamburgers (0.75y) is equal to $138.50.

Therefore, the system of equations representing this situation is:
x + y = 230
0.50x + 0.75y = 138.50