Solution

ID: past-exam-of-the-mathematics-course-of-the-university-of-cambridge/2025/iii/paper-201/2/a/v/solution

Almost surely, Brownian motion has a unique minimizer on every interval with rational endpoints, by rescaling part (iv). Every local minimum is the minimum on some rational interval contained in a witnessing neighbourhood. Each rational interval contributes at most one point, and there are countably many such intervals. The set of local minima is therefore countable.

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