Two Dimensions
For the convex polygon, a linear time algorithm for the minimum-area enclosing rectangle is known. It is based on the observation that a side of a minimum-area enclosing box must be collinear with a side of the convex polygon. It is possible to enumerate boxes of this kind in linear time with the approach called rotating calipers by Godfried Toussaint in 1983. The same approach is applicable for finding the minimum-perimeter enclosing rectangle.
Read more about this topic: Minimum Bounding Box Algorithms
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