What does “yield the right-of-way” mean?

• You must let the other driver go first
  Explanation:

  ""Yield the right of way" means that you must allow other road users (vehicles, pedestrians, cyclists) to go first before you proceed. This often involves slowing down or stopping to let them pass safely. Yielding is typically required at intersections, roundabouts, and when merging onto highways."
• You have the right to go first.
• You and the other driver must proceed at the same time
• None of above