There are a lot of gadgets out there for ladies to remove hair on their faces, legs, etc. Shaving although it is quick, it sure doesn't last at all. Gadgets such as No No and there are lots of others to use, work really well and last a long time. Eventually, you can go for months without a touchup.
I haven't heard of electrolysis costing $50 per hair. It normally runs between $40 to $60 per session which is approximately 30 minutes. It is still expensive though.