Correct answer is (a) λLT = √(fy/fcr,b)
Easy explanation: λLT = √(βbZpfy/Mcr) = √(fy/fcr,b), where βb = 1 for plastic and compact sections, βb = Ze/Zp for semi-compact sections, Ze = elastic section modulus, Zp = plastic section modulus, Mcr is elastic critical moment, fcr,b is extreme compressive elastic buckling stress.