No tools or settings to make dashboard v1 responsive in the way you seem to expect. You may try Dashboard 2.0 where responsiveness is built in.
What you are indicating appears to be the max-width setting and not aspect ratio (where shapes might change).
Most good web sites/pages will set the max-width to something that is comfortable for people to ready. However, this might not be as applicable to a Dashboard where you have lots of detailed data rather than something you read as a page.
You should be able to override the max-width but I'm not sure what impact that would have on Dashboard's grid settings.
