Abstract
The modified Carnot cycle, a novel thermodynamic cycle, is introduced, and the cycle's performance is analysed in order to more accurately depict the performance and design parameters of actual heat engines. Work output, thermal efficiency, and work density are all considered in conjunction during the performance analysis. In terms of maximum pressure, maximum volume, work density, thermal efficiency, and size, the results demonstrate that the modified cycle performs better than the classic Carnot cycle at simulating the real heat engine. In the performance analysis framework, a thermoeconomic optimisation has been carried out based on an objective function defined as the total cost per unit work output, which depends on an economic parameter, work density, and thermal efficiency. The findings might be used to select the modified cycle's ideal design and operation parameters, which can be applied to actual engines.