Final answer:
True, fixed costs are typically sunk and should not factor into a keep-or-drop decision analysis which should focus on variable costs and additional marginal gains.
Step-by-step explanation:
When performing a keep-or-drop decision analysis, the statement that 'fixed costs should be excluded from the analysis' is true. Fixed costs are often considered sunk costs, which means they cannot be recovered regardless of future actions. Focusing on these fixed costs, which will not change with the decision, can lead to incorrect conclusions. Instead, the analysis should concentrate on variable costs and additional marginal gains, as these reflect the costs that a firm can influence in the short-term and the benefits of producing additional units. Knowing that fixed costs remain constant regardless of the level of production is essential in make-or-buy, add or discontinue product, or other business decisions.