To find the correct inequality that represents the situation, we need to consider the total revenue generated from selling the T-shirts.
The revenue from long-sleeved T-shirts, which are sold for $14 each, can be represented as \( 14x \) where \( x \) is the number of long-sleeved T-shirts sold.
The revenue from short-sleeved T-shirts, sold for $10 each, can be represented as \( 10y \) where \( y \) is the number of short-sleeved T-shirts sold.
According to the problem, the total revenue from both types of T-shirts is less than $200. Therefore, the appropriate inequality to represent the situation is:
\[ 14x + 10y < 200 \]
So the correct choice is:
14x + 10y < 200