Step 1: Concept
Let the roots of a cubic equation $ax^3 + bx^2 + cx + d = 0$ be in geometric progression (GP). We can represent these roots as $\frac{a}{r}$, $a$, and $ar$, where $r$ is the common ratio.
Step 2: Meaning
The product of the roots of the cubic equation is given by $-d/a$. Here, the equation is $x^3 - 7x^2 + 14x - 8 = 0$, so the product of the roots is $8$.
Step 3: Analysis
Product of roots:
\[ \left(\frac{a}{r}\right) \cdot a \cdot (ar) = 8 \implies a^3 = 8 \implies a = 2 \]
Sum of roots:
\[ \frac{a}{r} + a + ar = 7 \implies 2\left(\frac{1}{r} + 1 + r\right) = 7 \implies \frac{1}{r} + 1 + r = \frac{7}{2} \]
\[ \implies r + \frac{1}{r} = \frac{5}{2} \implies 2r^2 - 5r + 2 = 0 \implies (2r - 1)(r - 2) = 0 \implies r = 2 \text{ or } r = \frac{1}{2} \]
Step 4: Conclusion
Thus, the possible common ratio is $2$.
Final Answer: (B)