Go to about:config in the address bar

That's actually not memory, but hard drive space being altered. The cache size is how much space on your hard drive it'll use to store pages, and all of their contents, to retrieve later if the page is visited again. If you choose a small (or no) cache it'll just get the fresh contents instead of using the stuff in the cache, albeit slightly slower, since it's gotta fetch it and it's not being stored locally. 
The 50000 roughly means it'll use up to 50MB. You can do the same thing by clicking Options|Advanced|Network and then at the bottom where it says "Offline storage", there's a line that says "Use up to [50] MB of space for the cache"

Wellington Florida
Married
Very nice. I'm sure if you have a older pc or a laptop this will be a great find