Complex sentence: The government examined the monopoly's costs, and determined whether or not the monopoly should be able raise its price and if the government felt that the cost did not justify a higher price, it rejected the monopoly's pplication for a higher price.
Split into simpler sentences: The Government examined the monopoly's costs, and determined whether or not the monopoly could raise its price. If the Government felt that the cost did not justify a higher price, it rejected the monopoly Application for a higher price.