Concept:
For a satellite in circular orbit,
\[
T=2\pi\sqrt{\frac{r^3}{GM}}.
\]
Hence,
\[
T\propto r^{3/2}.
\]
The time period is independent of the satellite mass.
Step 1: Write the ratio.
\[
\frac{T_A}{T_B}
=
\left(
\frac{r}{2r}
\right)^{3/2}.
\]
\[
=
\left(\frac12\right)^{3/2}.
\]
\[
=
\frac{1}{2\sqrt2}.
\]
Therefore,
\[
T_A:T_B
=
1:2\sqrt2.
\]
\[\begin{aligned}
\boxed{1:2\sqrt2}
\end{aligned}\]
Hence, option \(\mathbf{(A)}\) is correct.