If LP is a fish, I think, the best option is to just call behind and look to play a multiway pot with position. Sure KJo is not the greatest hand to take against an MP range. But when MP is out of position against two players, he is forced to play relatively straight forward. So it should be pretty easy to figure out, where you are in the hand against him.
If MP has a high fold to 3-bet, or he is opening to many hands, then I probably just go for the jam here. I dont like a small 3-bet, because you are losing to much, when you fold, and you invite MP to jam on you and the fish to call, whenever MP fold. If its near the bubble, I prefer to just fold this hand and wait for a better spot or for someone to bust at another table. Same if MP is a nit, so that his range is more like a normal players UTG range. You dont want to play KJo against someone, who basically always have AK, AQ, AJ, KQ or a pair.
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