Here is a summary comparing the utility theory of value and the labor theory of value:
The utility theory of value, developed by marginalist economists, states that the value of a good or service is determined by its ability to satisfy human wants or provide utility. Value is derived from demand and depends on how much utility a consumer gains from a product. Goods with greater marginal utility have greater value.
The labor theory of value, associated with Karl Marx, argues that the value of a commodity is determined by the total amount of labor required to produce it. Value is derived from supply and depends on the labor time socially necessary to produce a good. Goods that require more labor to produce have greater value.
The key differences are: