With low output states, less anesthetic is taken up by the blood, and alveolar concentration increases more rapidly. Highly soluble agents (Halothane, Iso, etc.) are most affected. With a poorly soluble agent, the rate of F alveolar/F inhaled increase is rapid regardless of the cardiac output and thus is not as affected by a decrease in cardiac output. With highly soluble agents, a potentially dangerous positive feedback exists in that anesthetic-induced cardiac depression decreases uptake, increases alveolar concentration, and further depresses cardiac output.
The same principle applies to right to left shuntinng.