Does room size affect volume and bass?

QED: Room volume affects power necessary to produce desired SPL hence cone excursion, indirectly, but most certainly.

Incidently, the size of the room will affect the bass simply because of its dimensions, because a 40Hz tone, which so many claim to produce, has a wavelength of nearly 30ft.

IN DEALING WITH ROOM SIZE, ACOUSTICAL PROPERTIES OF THE SPEAKER AND WHETHER THE ROOM IS A SOFT OR HARD ROOM PLAY A CRITICAL PART, NOT JUST THE SIZE OF THE ROOM. HIGH FREQUENCY ROLLOFF AND SOUND ABSORBING ROOMS CAN CREATE HAVIC. CEILING HEIGHTH SUCH AS HIGH VAULTED CEILINGS CAN EAT UP SINE WAVE ENERGY AND LOSE SOME OF THE EFFECTS OF THE AUDIO PROGRAM IN THE SOUND REPRODUCTION. THIS IS ESPECIALLY TRUE IN REFERENCE TO THE PROGRAM MATERIAL YOU USED. A PARAMETRIC EQ AND SOUND ANALYIZER CAN TELL YOU IF YOU ARE MISSING OUT.

Bass frequencies can still be perceived accurately in smaller rooms, whether or not the room supports the full wavelength. Bass waveforms do not have to be a "travelling wave" in order to be accurately reproduced.

Carl is absolutely correct. However, the best 40Hz tone I ever heard (electronically) came from standing 27.86 feet from a big Krell pushing a big speaker in a big room!!