No, there would not be multiple instances. There would be only one copy of the method shared by all instances. Each instance gets its own stack for storing data local to that instance. Search for articles describing thread-safety and reentrancy; those topics are related to each other and to your question.
Related to that, for DLLs there is only one copy of a DLL in physical memory that is shared by all processes (applications also called address spaces) in the system using virtual storage.