yes. The higher the number the smaller the wire.
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If the wires are of identical materials, the 26 guage wire has more (higher) resistance.
You will need a 40 amp breaker using AWG # 8 wire running it a distance of no more than 50 feet.
The NEC allows 26.
22 will handle wire sizes 22-26 22D will handle wire sizes 22-28 22M will handle wire sizes 22-24
Depends on the size of the conduit and the size of the wire.Allowable Conduit Fill CapacitiesSize and Type Of Conduit #14 Wire #12 Wire #10 Wire 1/2" EMT 12 9 5 3/4" EMT 22 16 10 1" EMT 35 26 16 1 1/2" EMT 84 61 38 1/2" PVC 10 7 4 3/4" PVC 18 13 8 1" PVC 32 23 15 1 1/2" PVC 80 58 36