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Yes.
To find the decimal equivalent of an 8-bit binary number, you can use the positional numbering system. Each bit in the binary number represents a power of 2, from right to left. Starting from the rightmost bit, you assign a value of 2^0, 2^1, 2^2, and so on, doubling the value for each position. Then, you sum up the values of the positions where the binary digit is 1. This sum is the decimal equivalent of the 8-bit binary number.
Nearly all computer math is based on variants of binary numbering. Printouts of computer memory data will combine the binary numbers into four bit groups called hexadecimal digits.
Yes, they are considered bits (of data).
Infinity is not directly represented in binary code. Binary code uses a finite number of bits to represent numbers, so it is not capable of representing infinity. However, there are ways to approximate infinity in binary code, such as using a special bit pattern to represent a very large number.