It depends on why it failed. It should tell you right on your suspension check sheet.
If your suspension is failing it is a numerous amount of components that are involved. The compressor could be shot, the air bags could be leaking, your solenoids could need replacing, the air lines could have leaks or holes in them, the dryer could need replacing, your relay could have issues. There are so many things that could go wrong with this and the cost to replace these items can be costly.
edit: these are all for electronic/hydraulic controlled suspension systems, these are only on high end cars. On most cars, a failed suspension check would most commonly be caused by failing shock absorbers or ball joints. Though other parts also will fail, it is much less common they do.
Check out autozone.com's repair guides online, under suspension, they have a good guide for doing it.
If they have both failed at the same time it sounds like a power supply problem. Check fuses
Fixing the blinkers on any car depends on what is wrong with them. If the flasher has failed replace the flasher. If a bulb or bulbs have failed then replace those bulbs. If the turn signal switch has failed then replace that. It could also be wiring or connection problems. Check connections for dirt, rust or corrosion, fix as needed. Check the light bulb sockets, clean or replace as necessary. Repair broken or damaged wires.
A suspension check is a review of the parts of an automobile that constitute the suspension system. These include CV joints, shock absorbers, and struts.
Have you looked for the fuseable link down by the starter? Check the switch, it may be the culprit. check the headlight relay
If you fix the problem with your air suspension
Suspension squeaking in a Cavalier can be from suspension parts rubbing together. Check to insure that all of the bushings in the suspension are intact.
If it is a 4.6 or a 4.0 then yes if it's the 2.5 BMW diesel engine than no the diesel engine on one of those is the best they run for around 220,000 miles and are faultless the only thing you will want to check is the air suspension my dad has had one of these new and it was brilliant then he sold it for the newer version but then re-brought another and the air suspension had failed do he had to pay 3k to have that done and then the ecu needed a remap. Point being look at the suspension more than the engine.
If you go to www.autozone.com , click on vehicle repair on the left, check the year, then mercury, then topaz. It will bring up repair guide for 84-94. Next click on suspension and steering, then front suspension, then lower control arm. Save this site, it's great for any repairs you have. You don't have to login, and there are detailed pics :)
It depends exactly what it has failed on. As very few people have the required equipment most cars need to be taken to a competent mechanic for proper diagnosis and repair of the problem.
A malfunction with the air suspension system has been detected
Depends entirely upon the valve design and how it has failed. I would guess that it needs either simple cleaning/descaling or replacing, not repair.