Final answer:
The specific phosphate equilibrium reaction that functions as a buffer at high pH is the reaction between HPO4²⁻ and H₂O to form H₂PO4⁻ and OH⁻.
Step-by-step explanation:
A buffer is a chemical system that helps maintain a stable pH by resisting changes in pH when an acid or a base is added. Buffers contain a weak acid and its conjugate weak base. One of the key buffer systems in biochemical systems is the CO₂/HCO3 system, which is dominant in blood plasma. The specific phosphate equilibrium reaction that functions as a buffer at high pH is:
HPO4²⁻(aq) + H₂O(l) ⇌ H₂PO4⁻(aq) + OH⁻(aq)