Arrange the following literary theories/movements in chronological order of their emergence:
A. Cultural Studies
B. Postmodernism
C. Feminism
D. Surrealism
E. Reception Theory
Choose the correct answer from the options given below:

The correct option is C, D, A, B, E.

To understand why this is the correct chronological sequence, we can trace the historical emergence and formal establishment of each of these literary and cultural movements/theories:

1. C. Feminism (Late 19th to early 20th Century): While feminist ideas can be traced back to earlier periods (such as Mary Wollstonecraft's writing in 1792), Feminism as a distinct, organized social, political, and literary movement (specifically First-Wave Feminism) emerged in the late 19th and early 20th centuries, primarily focusing on legal rights, suffrage, and equal opportunities.
2. D. Surrealism (1920s): Surrealism was an avant-garde movement in art and literature that sought to release the creative potential of the unconscious mind. It formally emerged in Paris in 1924 with the publication of André Breton's Manifesto of Surrealism.
3. A. Cultural Studies (Late 1950s to 1960s): Cultural Studies began to take shape as a distinct academic discipline in the United Kingdom during the late 1950s and early 1960s. It was institutionalized with the founding of the Centre for Contemporary Cultural Studies (CCCS) at the University of Birmingham in 1964 by figures like Richard Hoggart and Stuart Hall.
4. B. Postmodernism (Late 1960s to 1970s): Postmodernism arose as a reaction against modernism. It emerged as a dominant literary and cultural movement in the late 1960s and 1970s, characterized by fragmentation, self-reflexivity, and a deep skepticism toward grand, universal narratives.
5. E. Reception Theory (Late 1960s to 1970s): A branch of reader-response criticism, Reception Theory was developed in the late 1960s and 1970s by Hans Robert Jauss and Wolfgang Iser at the University of Constance. It emphasizes that a text's meaning is created in the interaction between the text and the reader, building upon and reacting to earlier mid-century theories.

By ordering these movements from the earliest to the most recent, we get:
Feminism (C) ⇒ Surrealism (D) ⇒ Cultural Studies (A) ⇒ Postmodernism (B) ⇒ Reception Theory (E).
Therefore, the correct chronological sequence is C, D, A, B, E.