The discussion focuses on finding the power set of a given set, specifically the set {∅, {∅}}. The correct power set is identified as {∅, {∅}, {{∅}}, {∅, {∅}}}, clarifying the inclusion of the second element {∅}. Additionally, the formula for calculating the number of elements in a power set, 2^n, is explained using binary representation to illustrate how subsets can be formed. An inductive proof is provided to demonstrate that if a set has k elements, its power set contains 2^k subsets, confirming the formula's validity. Understanding these concepts is essential for grasping the fundamentals of set theory and power sets.