Lemma 27.12.5. Let S be a graded ring. Let X = \text{Proj}(S). The functor F defined above is representable by the scheme X.
Proof. We have seen above that the functor F_ d corresponds to the open subscheme U_ d \subset X. Moreover the transformation of functors F_ d \to F_{d'} (if d | d') defined above corresponds to the inclusion morphism U_ d \to U_{d'} (see discussion above). Hence to show that F is represented by X it suffices to show that T \to X for a quasi-compact scheme T ends up in some U_ d, and that for a general scheme T we have
\mathop{\mathrm{Mor}}\nolimits (T, X) = \mathop{\mathrm{lim}}\nolimits _{V \subset T\text{ quasi-compact open}} \mathop{\mathrm{Mor}}\nolimits (V, X).
These verifications are omitted. \square
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