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Step-by-step explanation:

The constant of proportionality (or constant of variation), denoted by "k," represents the constant proportion or ratio that exists between two variables, y and x, such that y = kx.  

The given problem asks for you to identify the constant of proportionality and what it represents in context of the problem.

In the equation, y = 4.75x:

y = total cost in dollars earned

x = number of bracelets

The constant of proportionality, k = 4.75, represents the increase in total cost earned for every x number of bracelets sold.  In other words, the total increases by 4.75 for every bracelet sold.  

Thus, since Liv made x = 2 bracelets, then her total cost will equal to $9.50 because:

y = 4.75x

y = 4.75(2)

y = 9.50

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