The equation \((ab)^3 = a(b^3)\) illustrates the Power of a Product Property. This property states that when you raise a product to a power, you can distribute the exponent to each factor inside the parentheses.
However, please note that the equation should actually be \((ab)^3 = a^3b^3\). The equation as given does not hold true in general; instead, it demonstrates a specific case when the exponent on \(b\) is adjusted.
The correct association is usually described in terms of how exponents are applied across products, particularly in the form of \((ab)^n = a^n b^n\).