Both wireless stations and Ethernet stations will participate in the same (private) subnet. They will be able to...
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communicate with each other to share files, and will be able to communicate through the router to share Internet access. The wireless router will probably NAT all Internet-bound traffic and act as a DHCP server for all stations.
Details and capabilities depend on which wireless router you are using, but this configuration is fairly common and probably supported by your DSL/wireless router.
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