What does the sign indicate?

A)That vehicles travelling in the opposite direction have priority.
B)It advises giving way.
C)That I have priority over those travelling in the opposite direction.Correct
Priority over oncoming traffic.
It indicates to drivers that, at an upcoming narrow passage, they have priority over vehicles travelling in the opposite direction.
On the other side of the narrowing, vehicles will encounter the sign that removes their right of way (Priority for oncoming traffic).