The federal government awards a patent holder the exclusive right to make, use, and sell an invention for a period of

Which of the following is true of the banks that operate under Islamic law?

a. Islamic banks are not allowed to lend out to private firms. b. Islamic banks do not function as intermediaries between borrowers and lenders. c. Islamic Banks are not allowed to offer checking accounts or traveler's checks. d. Islamic banks are required to offer trade-related services free of cost. e. Islamic banks do not charge interest on loans or pay interest on deposits.

A monopolist faces a demand curve that is

a. more elastic than a perfectly competitive firm's demand curve b. the market demand curve c. downward sloping as is the perfectly competitive firm's demand curve but the monopoly's demand curve is more inelastic d. horizontal as is the perfectly competitive firm's demand curve but the monopoly's demand curve is more inelastic e. totally insensitive to changes in consumer tastes