To determine the locus of point \( P(x, y) \), we need to equate its distance from point \( (3, -2) \) to its distance from the line \( y = 2x + 1 \).
The distance formula from point \( P(x, y) \) to \( (3, -2) \) is given by:
\[ d_1 = \sqrt{(x - 3)^2 + (y + 2)^2} \]
The distance from point \( P(x, y) \) to the line \( y = 2x + 1 \) is given by:
\[ d_2 = \frac{|y - 2x - 1|}{\sqrt{4+1}} = \frac{|y - 2x - 1|}{\sqrt{5}} \]
Given \( d_1 = d_2 \), we have:
\[ \sqrt{(x - 3)^2 + (y + 2)^2} = \frac{|y - 2x - 1|}{\sqrt{5}} \]
Squaring both sides results in:
\[ 5[(x - 3)^2 + (y + 2)^2] = (y - 2x - 1)^2 \]
Expanding and simplifying gives:
\[ 5(x^2 - 6x + 9 + y^2 + 4y + 4) = y^2 - 4xy + 4x^2 - 2y + 4x + 1 \]
Breaking down:
\[ 5x^2 - 30x + 45 + 5y^2 + 20y + 20 = y^2 - 4xy + 4x^2 - 2y + 4x + 1 \]
Rearranging terms:
\[ 5x^2 - 4x^2 + 5y^2 - y^2 - 4xy - 30x - 4x + 20y + 2y + 45 + 20 - 1 = 0 \]
Simplifying gives:
\[ x^2 + 4xy + 4y^2 - 34x + 22y + 64 = 0 \]
By completing the square and further simplification (not fully expanded here for brevity), we identify the equation as that of a parabola.
Thus, the locus of point \( P \) is a parabola.