Miles and Emma are buying jam and pies at a farm stand. Mrs. Moore sells all jars of jam for the same price. She also sells all of her pies for the same price. Miles pays $37.50 for 5 jars of jam and 2 pies. Emma pays $40.50 for 4 jars of jam and 3 pies. Write a system of equations that can be used to determine the cost of one jar of jam and the cost of one pie.

Let x be the price of one jar of jam and y be the price of one pie.

From the given information, we can form the following two equations:

5x + 2y = 37.50
4x + 3y = 40.50

These equations represent the total cost of Miles' and Emma's purchases respectively.