Joy and kersey want to open a magic and novelty shop as jo-kers, with a plan to open other shops in the future. to attain limited liability for the lowest cost and the fewest start-up formalities, their best option is to form

Limited Liability Company

Explanation:

Limited Liability company refers to a form of business which has characteristics of both partnership and a corporation. In a limited liability company, the owner's liability is limited to the amount of capital contributed by them.

Such a set up retains the traits of a company wherein capital can be raised from public for expansion, at the same time depicts some aspects of partnership with respect to profit sharing.

In the given case, Joe and Kersey are desirous of opening a magic and novelty shop with vision to expand the number of such shops in the near future. The priority being limiting the liability and lowering cost with least required formalities for start up.

The best option would be to form a limited liability company( LLC).

d, conspicuous consumption is when you try to increase your wealth or social status (and in the case he's trying to create the perception of wealth considering he can't really afford it)