Does a vehicle prepared to enter a traffic circle or roundabout have the right-of-way over the vehicles in the circle?

Only if the light is green.
Yes, but only if they are entering the rotary from the right lane.
Yes.
No. Vehicles already in the circle have the right-of-way.
Explanation

When approaching a roundabout, drivers must slow down and prepare to stop if they cannot find a gap in the flow of traffic. Vehicles already inside the roundabout have the right-of-way and do not need to yield. Drivers entering the roundabout must yield to those already circulating.

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