If you run one 50W bulb for 20 hours it uses one kWh of electricity. Look at your electric bill and you will see what you pay per kWh for your electricity. It's up to you to decide if that is expensive or not.
You could probably get the same amount of light from 12W compact fluorescent bulbs - for 1/4 as much money per hour to run them. But the light would be of a different quality. Some people don't mind fluorescent and some really hate it. MR16 bulbs have a special connector and you can't just change the bulbs to compact fluorescent, you'd have to replace the light itself - easy if they are track lights, really difficult if they are recessed cans. Either the electric cost savings would take many years to pay for the new light fixture.
Here in California where the law requires kitchens to be lighted with fluorescent, many people don't get building permits and hide from building inspectors just so that they can use halogen lighting in their kitchens.