I think that depends on the phase of flight. For instance if you had a fire after V1 and below 400ft the only immediate action on most aircraft would be to cancel the aural warning. I'm pretty sure Tom is giving you 'set MCT' as the best of a bad bunch. It is certainly not (a).....(b) and (c) have the same effect.... (d) would be correct for an engine failure in the cruise on the basis of 'first fly the aeroplane', but only while simultaneously calling for the QRH.