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"thing" is implicit.

the bad = the bad thing
the good = the good thing

CJ

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They are also nouns. The dictionary is your friend. So is Sergio Leone.

anonymous

They are also nouns. The dictionary is your friend. So is Sergio Leone.

No they aren't. They are adjectives in a fused-head NP, where "good" and "bad" are understood as "good thing" and "bad thing".

See CJ's post.