Which of the following components effectively allows a user to set up AutoScaling on EC2 instances for a web-based application? (Select TWO)

Answer options:

A.Launch Configuration
B.AWS Lambda
C.Auto Scaling Group
D.Elastic IP

Answer: A and C
Option A is correct.
A launch configuration specifies the type of EC2 instance that Amazon EC2 Auto Scaling creates for you. You create the launch configuration by including information such as the ID of the Amazon Machine Image (AMI) to use, the instance type, the key pair, security groups, and block device mapping.
https://docs.aws.amazon.com/autoscaling/ec2/userguide/LaunchConfiguration.html
Option B is incorrect.
Lambda functions are not required to set up auto-scaling for EC2 instances.
Option C is correct.
An Auto Scaling group is a collection of EC2 instances and the core of Amazon EC2 Auto Scaling. When you create an Auto Scaling group, you include information such as the subnets for the instances and the number of instances the group must maintain at all times.
https://docs.aws.amazon.com/autoscaling/ec2/userguide/AutoScalingGroup.html
Option D is incorrect.
Elastic IP is nowhere used to set up auto-scaling for EC2 instances.