Something like this?
Code:
<script src="http://code.jquery.com/jquery-latest.js"></script>
<select>
<option id="country_and_cost">Select country</option>
<option value="27">Argentina</option>
<option value="95">Australia</option>
<option value="150">Austria</option>
</select>
<input type="text" id="cost" readonly="readonly" value="" />
<script type="text/javascript">
// <![CDATA[
$(document).ready( function() {
var selection = 0;
$('select').change(function() {
selection = $(this).val();
$('#cost').val('Cost = ' + selection);
});
})
// ]]>
</script>
Hope this helps.
-Riku