plagiarism - Using species from another novel, in my novel, copyright infringment?

I would like to start a novel, but it would include Fantasy species such as Dwarves and Elves, etc. I got this idea after reading several of Tolkien's novels. If I write this novel it would have completely different characters, plot, and settings. But the basic concept of the 'time period' and the way they live (Swords, daggers, bow and arrows for weapons, no modern technology included, etc.) would remain the same. Is this considered a copyright infringement? Would it be acceptable if Tolkien was credited for it? Is there even a possibility of publishing a novel that gives credit for ideas to another author? Actually laws and facts to back up answers would be great. All help is appreciated.