The correct option is A Measuring the rate of transpiration
In the given diagram, water is sealed in glass tubes. But however, water in the beaker is exposed to the atmosphere. On one glass tube, a plant is kept and another arm of the glass tube is sealed. There is no way other than transpiration through the plant, than the glass tubes can lose water.
Movement of air bubble in the lower glass tube can give a measurement of the rate of transpiration from the plant.
So, it is used for measuring the rate of transpiration.