The work component at the lowest level of the WBS for which cost and duration can be estimated and managed is called the

Answer: Work package

Explanation:

The work package is basically refers to the project management part which basically manage the various types of function and the services for producing the result.

The work packages is one of the smallest unit of the project which contain some useful information that is specifically required for the products and the services.

According to the question, the work component is one of the WBS lowest level where the duration and the specific cost are estimating and managing is know as the work package.

Therefore, Work package is the correct answer.