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The phrase "the cost efficiency" is correct and usable in written English.
You can use it when you want to refer to the measure of how much output can be produced with a given amount of resources. For example: "Research suggests that increasing the cost efficiency of production can lead to higher profits for businesses."
Dictionary
the cost efficiency
noun
Amount of money, time, etc. that is required or used.
synonyms
Exact(28)
Considering the cost efficiency, Scenarios 5 7 are inefficient.
Interest expense to interest income represents the cost efficiency of banks after M&A.
To define the index, they used the cost efficiency of the under evaluation DMU.
This number is easy to get (and is used in the cost efficiency ratings at forbes.com/funds).
In addition, the cost efficiency of product development can be improved through increased flexibility during the development.
The cost efficiency of green roofs is quite high because of several reasons.
Similar(32)
The strategic rationale behind the move is as spurious as the cost-efficiency one.
In other cases, though, the cost-efficiency of contracting out may reduce the incentives to automate.What sort of world will this on-demand model create?
The sensitivity analysis explored factors determining the cost-efficiency of pharmacogenetic stratification. .
First, we transformed the cost-efficiency (two-dimensional) representation into a one-dimensional one.
The sensitivity analysis explored factors determining the cost-efficiency of pharmacogenetic stratification.
More suggestions(15)
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com