What is the formula for calculating utility?

Utility is often calculated using the formula ( U = f(x_1, x_2, ..., x_n) ), where ( U ) represents the total utility derived from consuming a combination of goods and services ( x_1, x_2, ..., x_n ). This function can vary based on individual preferences and can be expressed in different forms, such as cardinal utility (measurable and quantifiable) or ordinal utility (based on preference ranking). In economics, marginal utility, which measures the additional satisfaction from consuming one more unit of a good, is also a key concept, typically calculated as ( MU = \frac{\Delta U}{\Delta x} ).