High ventilation relative to perfusion, b/c blood flow is decreased. Because ventilation is high, there is a high O2 added to the blood, and lots of CO2 taken away from the blood. So the alveolar/arteriole PCO2 is low. Blood is almost completely saturated at normal V, so increasing the V does not increase the PO2 in arteriole blood.
What will occur to alveolar/areteriole gas composition in areas of high ventilation compared to perfusion (high V/Q).