In this article, the proposed modal evaluates the performance of 32×40Gb/s dense wavelength division multiplex (DWDM) optical transmission systems through hybrid dispersion compensation techniques which are Dispersion-Compensation-Fiber (DCF), DCF-FBG (Fiber Braggs Grating), OPC (Optical-Phase-Conjugation)-DCF, and OPC-DCF-FBG using Gaussian, Non-Return-to-Zero (NRZ) and Return-to-Zero (RZ) pulse generators. Performance of proposed modal is evaluated through single-mode fiber (SMF) length between 100-500km with an optimized length of DCF/FBG for low-cost optical transmission systems. The performance of the designed model is evaluated in terms of quality-factor (Qfactor), bit-error-rate (BER), eye diagrams, and cost analysis for all proposed combinations of dispersion compensation techniques. The quality factor and BER are also evaluated at different input power levels. It is found that the hybrid combination of OPC-DCF-FBG techniques having RZ pulse-generator gives the best performance with low cost for 500km long-haul optical transmission systems.