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8 bits = 1 byte.

thats an awful answer! HERE IS ANOTHER ANSWER; HOPE THIS IS WHAT YOU ARE LOOKING FOR! If you mean ASCII characters then 8 bits can store one ASCII character (may also depend on processor, prog language, etc), for example, the decimal value for A is 65 in ASCII which equates to 01000001 in binary where each 0 or 1 is represented by a single bit

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Why the letter A would take up one byte of storage space?

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