I have one PowerApp license. But I want multiple users to be able to open that PowerApp in the browser and use it. Is this allowed if I only hold one PowerApp license ?
Is there a fair-usage on how many instances of the PowerApp can run at the same time when only one PowerApp license is bought ?
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Powerapps is user based license. So anyone that creates or consumes a powerapp will require a license. At least until Guest support for powerapps happens. Then unlicensed users can use the powerapp, however, if that users is part of your company and supposed to be licensed, they should be .
Do you want other users to use your own PowerApps license at the same time?
I agree with @cwebb365's thought almost, each user wants to use PowerApps, you must own Office 365 for PowerApps license, or PowerApps licenses (Plan1 & Plan2) or Dynamics 365 license.
If you want the other users (not your own account) to use your own PowerApps license at the same time, I afraid that there is no way to achieve your needs in PowerApps.
If the other users that you mentioned use your own login account, the answer to your question is YES. An Office 365 account could use an app simultaneously within multiple PCs, Mobiles, etc.