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Normally older ovens required a AWG #8 wire on a 40 amp breaker. On a modern double oven I would recommend you install AWG #6 on a 50 amp breaker. That way you are safe and will not have to worry about the breaker tripping. It will cost a little more but is worth it in the long run.
The amp size of a wire is determined by its gauge, not the number of wires. An 8-gauge wire is typically rated for around 40-60 amps, depending on the type and insulation of the wire.
For a 20 amp circuit, a 12-gauge copper ground wire is typically recommended. This wire size can safely handle the current and provide proper grounding for the circuit.
You will need to use #8 wire.
Yes, no problem at all going to a larger ampacity of wire. Larger size wire yes, smaller size wire no.