The Hb or hemoglobin refers to a molecule of protein present in RBCs or erythrocytes comprising of four subunits; two beta and two alpha subunits. Each subunit envelopes a heme group in the center, which comprises iron and attaches one molecule of oxygen, permitting each molecule of hemoglobin to combine with four molecules of oxygen.
In the given case,
Diffusion time = L^2/D^ij = (10^-4 cm)^2/2*10^-5 cm^2/s = 0.0005 sec
With a diffusion time of 0.0005 sec, it can be seen that diffusion is much faster in comparison to the reaction time of 0.33 sec. Thus, diffusion does not interrupt the procedure of oxygenation.