The given expression is a division of two terms, x3y4 and x2y. When dividing two terms with the same base (in this case, x), we subtract the exponents. So, we subtract 2 from 3, which gives us x3-2 = x^1 = x. Similarly, when dividing two terms with the same base (in this case, y), we subtract the exponents. So, we subtract 1 from 4, which gives us y4-1 = y^3. Therefore, the simplified expression is xy^3.