48 CFR §14.408-2

1. (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.
2. (b)The price analysis shall consider whether bids are materially unbalanced (see 15.404-1(g)).