how web pages stored at server end?

I want to know How a Web server is working on server side that is when i give and is both web addresses resided on same computer in server end. How web pages are stored in server that is their hierarchy?are they located in single directory on same PC or different PC as their domain names? Is both yahoo addresses have same IP or Different IP assigned to them?
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Being such busy sites, I'm sure they are both located on several servers each (for the sake of load balancing, backup, etc.). and have different IP addresses, but if you ping a few times, you'll see that it has multiple IPs itself - / / being three that I got.  Presumably, these servers are located in different places, too.  Given that both sites are spread out over multiple servers, I doubt there are any cases where you have a server hosting both domains.

Most websites don't work this way as they don't have the level of traffic that would justify it.  They'll either run on a single server or a main server and a backup.
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