How does composition change if you extend an Earthlike atmosphere 50km below sea level?
This seems like a World Building question. I presume that on your imaginary planet something, perhaps an asteroid strike, has created a huge bowl 50 km deep. On the rim of the bowl, the atmospheric pressure and composition are the same as at sea level on Earth. You want to know what conditions would be like at the bottom.

In some respects a bit like Venus. Very hot, but exactly how hot would depend on whereabouts on the planet this deep bowl had formed. The composition of the atmosphere would be the same as at sea level (I assume the lip of the bowl is not close to a sea). The pressure at the bottom would be many atmospheres, but not as many as the 90 atmospheres on Venus. It would seldom rain down there because of the heat and high pressure. Rain falling in from high altitude would usually evaporate before reaching the bottom. As explorers ascended the sides, conditions would become more normal 

Would it be habitable? Yes, but how habitable depends on where on the planet this bowl occurred. There would be habitats on the slopes, where conditions were less extreme than at the bottom. If this bowl or basin were in the tropics, the bottom would probably be too hot to sustain life. A water supply would also be problematic. Pressure is less of a problem; there are life forms 12 km down or deeper in Earth's ocean trenches.