Thats not such an easy question.
if theoretically 2 pages were "exactly" the same rank . One was
www.keyword.com and one was
www.bungo.com/keyword/keyword/keyword.html i think it would display the first one first
hope that helps.
I have seen it work both ways though , google / yahoo is finicky..
example google will list 2 pages fromt he same site if they both apply.
like porn videos might show
www.pornvideos.com , and
www.pornvideos.com/porn/video/ in either order..
I really dont think it matters much . If a keyword is simply in the url it must help a little but not much