Step 1: Understand what a power set is. A power set is the set of all possible subsets of a given set.
Step 2: Identify the original set A. In this case, A = {a, b}.
Step 3: List all possible subsets of A. The subsets include: the empty set (∅), the set containing just 'a' ({a}), the set containing just 'b' ({b}), and the set containing both 'a' and 'b' ({a, b}).
Step 4: Combine all the subsets into one set. The power set of A is {∅, {a}, {b}, {a, b}}.
