Answer
$y^2$
Work Step by Step
$\frac{xy^3}{z}\times\frac{z}{xy}$ $\longrightarrow$ multiply numerators and denominators
=$\frac{/\!\!x/\!\!yy^2/\!\!z}{/\!\!z/\!\!x/\!\!y}$ $\longrightarrow$ cancel common factors
=$y^2$
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