UNO Rev. 3: What is the LM358 for ?

CrossRoads:
1/2 is used as a voltage comparator, to select whether the board is powered from USB or from Vin.

Thanks, CrossRoads!

So, the 1st half of the LM358 works like an electronic jumper, automatically switching between different power sources ?

If that is so, what happens when both inputs (USB & jack) are powered?