The pungent verbal give-and-take among the characters makes the novel ------ reading, and this very ------- suggests to me that some of the opinions voiced may be the author's.
A. disturbing.. flatness
B. tedious.. inventiveness
C. lively.. spiritedness
D. necessary.. steadiness
E. rewarding.. frivolousness

From the 'pungent', I've already known only "lively" fit the blank. But what does "give-and-take" mean here?

"Verbal give-and-take" huh. Sounds like the conversation, doesn't it?
It may refer to some kind of witty or heated conversation.
Maybe. Emotion: smile

Thank you.