The head of webdev for my company says that a responsive design is usually about 20-30% more expensive than a traditional mobile-ignorant design. This is significantly higher than 0%. It is also significantly lower than the ~100% increase it would take to build a separate dedicated m. experience. The resulting mobile experience is significantly more full-featured than the shitty bifurcated experience[1] you could otherwise get with 30% of the main site's budget.
Responsive Design is not a silver bullet, and should not be sold as such. If it is worth your time to make a mobile version of your site, it is an extremely attractive option for doing so, and generally superior to the alternatives. Doesn't mean it's free or perfect, just means it's better than the other ways of doing it.