You're focusing on the wrong term with your thoughts. It should be 'minimum' part that is in question here. If you're building a new GPS service and need actual satellite development and launch, then minimum may be millions of $.

MVP is not really a product, it's a customer discovery process. If you have that in mind, it becomes much clearer.

We spent over 3 months in development plus 10k in expenses for http://beta.carmivore.com and we're currently in beta testing. Luckily, we went for minimum and early adopters already gave some valuable feedback.