Yes it can and usually fairly inexpensively. However, it's not a user serviceable problem and will need to be repaired by a qualified service technician.
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http://www.fixya.com/support/r6150077-basic_lcd_monitors_troubleshooting
Failed TV and Monitors: http://s807.photobucket.com/home/budm/allalbums
http://en.wikipedia.org/wiki/Capacitor_plague
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