If you mean under the same domain name, then yep, no problem...
Login under FTP your account with your host and create 2 folders (1 for each site) within the public_html area (or what ever it is on your hosting server) and then when you create the network files for each upload, set the path for it to the /public_html/firstsite/acatalog and so on , and /public_html/secondsite/acatalog and so on...
You can use the same cgi-bin, just assign a different script ID within the network settings, which will allow you to upload to the same folder in that context...
If you already have an active site, then simply create a folder next to the current acatalog folder, but called something else ofcourse, then within that new folder create the acatalog folder.
Afraid can not provide the example as do not know what your settings are, but if you export your current settings from the live operation and import into the new operation you want, then append the paths and folders with the extra folder you created next to the current acatalog folder, then it should go along fine...
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