Step 1: Understanding the formula for power in an electric circuit.
The power in an electric circuit can be calculated using the formula:
\[
P = \frac{V^2}{R}
\]
where \( V \) is the voltage across the resistor and \( R \) is the resistance of the circuit. This formula is derived from Ohm's law (\( V = IR \)) and the basic power formula (\( P = IV \)). By substituting \( I = \frac{V}{R} \), we get:
\[
P = V \times \frac{V}{R} = \frac{V^2}{R}
\]
Step 2: Conclusion.
Thus, the correct answer is \( \frac{V^2}{R} \).