If the demand for good X is highly elastic and a tax is imposed, what is the primary reason that consumers will bear a smaller portion of the tax burden compared to producers?

When the demand for good X is highly elastic, it means that consumers are very sensitive to price changes. If a tax is added to the price of good X, consumers will likely reduce their purchases significantly because they can easily switch to other products or find alternatives. As a result, producers must absorb a larger portion of the tax to keep prices competitive and maintain sales. For example, if a tax raises the price of a popular snack, consumers might choose to buy a different snack that is cheaper instead. Therefore, because consumers can easily change their buying habits, they end up bearing a smaller share of the tax burden.