Our technical tests with LXC containers have shown that real RAM usage occurs only on the extras to the mainline kernel that actually are different or add something extra, at user-level.
Regular KVM offers with systemd as the init system currently occupy, kernel-only, some 220-250MB of RAM, with that number increasing progressively as the VPS has higher uptime. sysVinit solutions occupy some 100MB less than that, hovering on the 150MB mark. For a simple usage, simple containers, it's relevant.
LXC offers don't mess with any of this: systemd is standard and RAM for systemd is only spent once for an unlimited number of containers. Therefore, RAM usage on LXC is only 50-60MB, the remaining staying in cache. Since many Linux applications effectively use less than 150MB of RAM, this allows us for example to provide an entry-level offer at 192MB that allows for great usage for simple tasks at a very, very low price.