Say we have the following quantum state: $$ |\psi\rangle = \frac{1}{\sqrt{2}}(|00\rangle +|10\rangle)$$
To measure the first qubit and then further trace out the first qubit, my notes have the following equation for the post-measurement state:
$$ \rho = \frac{\text{Tr}_1(\Pi_1|\psi\rangle\langle\psi|)}{\text{Tr}(\Pi_1\otimes \mathbb{I} |\psi\rangle\langle\psi|)}$$
Firstly, if I wanted to measure the first qubit in the state $|0\rangle$, what would $\Pi_1$ be? Would it be the outer product $|0\rangle\langle0|$ because $|\psi\rangle$ is in outer product form?
Secondly, what would the mathematics look like to get the post-measurement state?