Try the monitor on a different computer. If it works, then you are having a computer problem. Usual computer problem that causes monitor to not come out of standby is a hardware issue.
If the monitor does not work on another computer, then it is broke. If you are not good with circuit boards, I suggest taking it to your local electronic repair shop for a quote on repair. Personally if it was me, I would just get a new monitor if it fails to start up on a different computer.
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