FAR 14.408-2
Responsible bidder-reasonableness of price.
(a) The contracting officer shall determine that a prospective contractor is responsible (see subpart 9.1 ) and that the prices offered are reasonable before awarding the contract. The price analysis techniques in 15.404-1 (b) may be used as guidelines. In each case the determination shall be made in the light of all prevailing circumstances. Particular care must be taken in cases where only a single bid is received. (b) The price analysis shall consider whether bids are materially unbalanced (see 15.404-1 (g)).
Source: acquisition.gov — FAR
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