This road sign means:

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Slow down if an emergency vehicle is approaching.
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You have the right of way.
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Yield the right-of-way.
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No Passing Zone.
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Explanation
A YIELD sign is a red and white triangular sign indicating that other traffic has the right-of-way. Reduce your speed as you approach the intersection. Always yield to vehicles and pedestrians in or heading toward the intersection. If traffic conditions require it, you must come to a complete stop. When approaching a YIELD sign, carefully check for oncoming traffic and be ready to stop if necessary.
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