Final answer:
The correct answer is option c. The increase in elation and decrease in fear experienced when skydiving is best explained by the Opponent-process theory, which indicates that emotions are typically followed by contrasting emotions.
Step-by-step explanation:
The scenario described in the question is supported by the C. Opponent-process theory of emotion. This theory suggests that emotions are often followed by opposing emotions. Specifically, in regard to the scenario of jumping out of an airplane, the initial extreme fear is an emotional response that is later countered by increased levels of elation when the individual jumps again.
According to the opponent-process theory, the body tries to maintain homeostasis by counteracting any intense emotion with its opposite. Thus, after repeatedly experiencing the fear of skydiving, the body becomes more accustomed to the sensation and the fear decreases while elation, the opposing emotion, becomes more pronounced.