A typical heat treatment for AA7050 would be a solution heat treatment at 478°C for 1h followed by quenching in water and age hardening at 120°C for 24h to achieve T6 temper (i.e., peak hardness).
* The strengthening effect of reinforcing particles may depend on their (distribution of) their particle size, on their effect on the dislocation movements and on the grain size of the Al matrix concerned.
* As a starting point for the study of heat treatment of an Al MMC can be taken the common heat treatments as denoted by the above discussion. However, the presence of the reinforcing particles may alter the kinetics of the age hardening processes, although the reference in the link shows for that particular case little influence.
* I think that for each separate case of Al MCC the appropriate heat treatment schedules should be studied.
Article Hardness, Melting Reactions and Heat Treatment of Al-Si-Cu-M...
AS indicated in most of the answers, solution treatment followed by age hardening (T6 treatment) is the best solution for improving characteristics of Al7050 alloy based MMCs.
As aluminium's 7xxx series is zinc based and it is a heat treatable due to which a precipitates will form in the material by heat treatment (T6), which ultimately increases the strength only at peak aging condition rather than over age or under age conditions. The peak aging condition will take place when you do solutionizing at 480°C for around 1hr and after this artificial aging at 160°C for 20 hrs.