If $\log (xy^3)= 1$ and $\log (x^2y) = 1$,  what is $\log (xy)$?
We have \[1 = \log(xy^{3}) = \log x + 3\log y \quad\text{and}\quad 1 = \log(x^{2}y) = 2\log x + \log y.\]Solving yields $\log x = \frac{2}{5}$ and $\log y = \frac{1}{5}$. Thus \[\log(xy) = \log x + \log y = \boxed{\frac{3}{5}}.\]