Final answer:
Allelopathy is both a form of interference competition and a biochemical process where one species releases chemicals to harm another. This interaction can lead to reduced population sizes or extinction of the affected species over time.
Step-by-step explanation:
Allelopathy can be accurately described as occurring when individuals of one species release chemicals that harm individuals of another species. It is also a form of interference competition, where one organism releases allelochemicals that interfere with the growth, survival, or reproduction of other species. Therefore, the correct statement about allelopathy is both 1) It is a form of interference competition and 2) It occurs when individuals of one species release chemicals that harm individuals of another species.
Over time, the possible outcomes of this interaction on the affected species (species B) could include decreased growth and reproduction rates, potentially leading to reduced population sizes or even local extinction if the allelopathic effects are strong enough and if species B cannot adapt to the presence of the allelochemicals.