Thank you all for your input, they have been very helpful. I'd like to point out that cost effectiveness is my primary target. The USB extension is $10, and I wouldn't need anything else in addition. So buying a mixer would be out of the question.
I think I will try the USB extension out, seems worth a try. Having a powered hub power the interface before the audio is sent through the USB extension to the computer should allow the interface to work properly, in theory at least. Remember that my interface is a portable 2-input interface that is made to require minimal power, which is why you only connect it to the computer instead of also to an electrical outlet.
If this doesn't work, I'll have to go with the long XLR and headphone extension cable, since this is the next cost-effective. Unfortunately with this, I won't be able to control mic gain and headphone level from within the booth.