Final answer:
The correct formula for electric power is P = V × I, which can also be expressed in terms of resistance as P = V²/R or P = I²R, based on Ohm's law.
Step-by-step explanation:
The formula for electric power is given by P = V × I, where P represents power in watts, V represents voltage in volts, and I represents current in amperes. This formula is derived from Ohm's law, which defines the relationship between voltage (V), current (I), and resistance (R). When considering resistance, the electric power can also be expressed as P = V²/R and P = I²R, providing alternative ways to calculate power when different sets of electrical properties are known.