Answer
$\frac{1}{16}$
Work Step by Step
When dividing exponential expressions with the same non-zero base, subtract the exponent of the denominator from the exponent of the numerator and give the resulting exponent to the same base:
$$\frac{2^{3}}{2^{7}}$$
$$=2^{(3-7)}$$
$$=2^{(-4)}$$
When an exponential expression has a negative exponent, change the position of the base (from the numerator to the denominator, or vise-versa) and make the exponent positive.
$$=\frac{1}{2^{4}}$$
$$=\frac{1}{16}$$