Final answer:
The small, cone-shaped elevation at the base of the hair follicle is called the Hair papilla. It contains blood capillaries and nerve endings vital for hair growth.
Step-by-step explanation:
The correct option that best describes the small, cone-shaped elevation located at the base of the hair follicle in the field of trichology or dermatology is D) Hair papilla. The hair papilla is made up of connective tissue that contains blood capillaries and nerve endings, providing the essential nutrients and signals necessary for hair growth. This structure is located at the very base of the hair follicle, where it interacts with the hair matrix, a layer of mitotically active basal cells that produce the hair's keratinocytes. The rest of the hair, which is anchored in the follicle, lies below the surface of the skin and is referred to as the hair root. The hair root ends deep in the dermis at the hair bulb, which surrounds the hair papilla.