TO$2.$EO$4$ Given a DoD acquisition scenario, apply the methods for determining price reasonableness.

Question $24$ of $24.$

You are the contracting officer for a commercial product requirement with an estimated value of $$415,000.$ Six quotations that meet the Government's requirement were received in response to the solicitation and there is no reason to believe the proposed prices are unreasonable. Which one of the following statements about the price reasonableness determination is most appropriate?

$$ There is no requirement to conduct or obtain market research to support the determination of price reasonableness.

Comparison of the quotations will likely meet the requirement to obtain market research in support of the fair and reasonable determination.

Negotiations will likely be necessary to establish a fair and reasonable price.

$$ It will be necessary for the quoters to submit additional price or cost information to determine the proposed prices reasonable.