Step 1: Concept
Refraction and dispersion occur when light enters a prism, where the angle of deviation depends on the wavelength.
Step 2: Meaning
Cauchy's equation states that the refractive index $\mu$ is higher for shorter wavelengths.
Step 3: Analysis
Violet light has the shortest wavelength in the visible spectrum, meaning it experiences the highest refractive index and slows down the most.
Step 4: Conclusion
Because it slows down the most, violet light undergoes the greatest deviation from its original path.
Final Answer: (B)