Technically, yes, but...
Since we want Edge implementations to always be N+1 for redundancy, you would actually need to have 3 Edges to be able to say that you can handle 700 concurrent calls.
In other words, if you only have two Edges and one Edge goes down for some reason, you would only be able to handle 350 concurrent calls. However, if you have 3 Edges in an N+1 configuration and one Edge goes down, the other Edge can step in and you'll still be able to handle 700 concurrent calls.
Bottom line - To be able to say that you can handle 700 concurent calls, you will need to have 3 Standard v2 Edges.