 Solution

Use the local-presentation definition of a quasi-coherent sheaf: locally it admits a presentation ${\mathcal{O}}^{(I)}\to {\mathcal{O}}^{(J)}\to \mathcal{F}\to 0$ by direct sums of copies of the structure sheaf, with no finiteness requirement on the index sets. If $M$ is an $A$-module, choose a free module presentation $A^{(I)}\to A^{(J)}\to M\to 0$. Exactness of localization of a module gives the corresponding local presentation of $\tilde{M}$. Hence a sheaf which is associated with a module on every affine open subset is a quasi-coherent sheaf.

For the converse, begin with a quasi-coherent sheaf and a local presentation on an affine open subset $V=\mathrm{Spec}R$. The free sheaves have global sections $R^{(I)}$ and $R^{(J)}$: a section has locally finite support, and quasi-compactness of $V$ makes its support finite globally. Part (i) identifies the presentation map with an $R$-module homomorphism. Exactness of localization then identifies its cokernel sheaf with ${\tilde{M}}_V$ for the module cokernel $M_V$. Thus there is an affine open cover on which $\mathcal{F}$ is associated with modules.

It remains to show this on an arbitrary affine open subset $U=\mathrm{Spec}A$, rather than only the selected cover. Around each point of $U$, choose an affine neighborhood contained in $U$ with such a local presentation. Choose a finite cover $U={\bigcup }_{i=1}^{r}D(s_i)$ refining these neighborhoods. On each $D(s_i)$ the restriction is associated with a module. Its restriction to $D(s_i{s}_j)$ is therefore the corresponding localization, and the same is true after intersecting with $D(a)$. Put $M=\Gamma (U,\mathcal{F})$. The sheaf gluing axiom giveswhere the arrow is the difference of the two restriction maps. Localization of a module commutes with kernels and finite products. Localizing this formula at $a$ therefore gives exactly the gluing formula for $D(a)$, covered by the $D(a{s}_i)$. Consequentlycompatibly with restriction. These isomorphisms on the principal open subsets identify $\tilde{M}$ with $\mathcal{F}{|}_U$. We have proved the global-section localization for quasi-coherent sheaves and, in particular,