How can you balance the trade-offs between memory usage and runtime efficiency in algorithm optimization?

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Optimizing algorithms is a delicate balancing act between memory usage and runtime efficiency. When you're coding, you want your program to run fast, but you also need to consider how much memory it's using. It's like trying to pack a suitcase—the more efficiently you pack, the more you can fit without it becoming too heavy to carry. In the world of algorithms, you're often faced with decisions that affect both the speed of execution and the amount of memory required. Striking the right balance is key to creating efficient and effective software.

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