The lower unit is the assembly on the bottom of the motor that includes the gear casing, water pump and pickup, and the driveshaft up into the engine. The next level up is a basically hollow part called the midsection, then up to the powerhead. Mercury 90 HP lower units look like this:
You can expect to pay $300-$600 for a used lower unit in good shape. Don't even think about what a new one costs...
Good luck!