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The cheapest monitor for a raspberry pi is a remote one...did you know you can connect to a raspberry pi by running vncserver on the Pi and connecting to it from another computer using vncviewer? I discussed vnc in my latest blog postThe Pi Powered Joke Machine - The Ultimate Raspberry Pi Bundle Blog post
Another thing you can do is get a converter....for my Pi I've used an HDMI to DVI cable to connect to an inexpensive computer monitory (I believe you can also get hdmi to VGA adapters, and in that case you can probably get a free old school VGA monitor
Hi, I think cheapest monitors are the ones with RCA conector, like this:
I'm not sure if you're looking for cheap or small.
For small monitors, take a look at this element14 thread: http://www.element14.com/community/message/46013/.
There are also a number of small monitor options at Adafruit: http://www.adafruit.com/category/105_160
For cheap, I've heard that going to a second-hand store is a good approach. A lot of people have traded in working CRT monitors when they upgraded to flat panels. If the monitor has VGA input, you can use an HDMI to VGA converter box but read the RasPi Hardware Wiki first: http://elinux.org/RPi_Screens#RGB_analog.2FVGA and http://elinux.org/RPi_VerifiedPeripherals#HDMI-.3EVGA_converter_boxes.
There's also the Atrix Lapdock option if you can still get one: http://elinux.org/RPi_Screens#Motorola_Atrix_Lapdock