Final answer:
The effect of oxygen on hemoglobin-carbon dioxide binding is known as the Haldane effect, where low oxygen levels increase hemoglobin's affinity for carbon dioxide.
Step-by-step explanation:
The effect of oxygen on hemoglobin-carbon dioxide binding is known as the Haldane effect. This phenomenon illustrates how the partial pressure of oxygen affects hemoglobin's affinity for carbon dioxide. When the partial pressure of oxygen is high and hemoglobin is saturated with oxygen, it does not readily bind to carbon dioxide. In contrast, a low partial pressure of oxygen enhances hemoglobin's ability to bind carbon dioxide. This is particularly important as it allows for efficient transport and exchange of gases where deoxygenated blood picks up carbon dioxide from the tissues, and oxygenated blood releases carbon dioxide in the lungs.