A private university wanted to increase the enrollment in their summer courses to increase their overall university revenues.Taking a page from a local retail outlet, they decided to put summer courses on sale.The rationale offered was that lower prices lead to greater sales and thus greater revenue.The university priced their summer classes as -- enroll in one at full tuition get a second course enrollment for half tuition (in essence buy one get another one half price).

At the end of the summer the university found that there was very little change insummer enrollments and summer revenue had declined.

If they had asked you (who is very well trained in economic reasoning), what explanation would you provide as to why the university should have anticipated this result?