What does the term surcharge refer to?

The term "surcharge" is best defined as a charge added to the usual cost of goods or services. This additional fee is often implemented in various contexts, such as when businesses add a surcharge to accommodate processing fees for credit card transactions, surcharges during peak hours, or for special services. Understanding this definition helps clarify why option C correctly represents the definition of a surcharge.

In contrast, the other options do not align with this definition. For instance, a fee for processing credit card payments is specifically related to transaction costs and does not encompass the broader concept of a surcharge. Similarly, a discount applied for high-volume transactions is the opposite of a surcharge, as it reduces the total cost. Lastly, a penalty fee for late payments does not fit the definition of a surcharge, as it relates to a financial penalty rather than an increase in the cost of a product or service. Therefore, recognizing that a surcharge inherently represents an additional charge helps solidify the understanding of this term in various transactions.