were the arrow in the pic is you can adjust it there.
back off the brass nut in the picture and screw in the threaded piece it is on . this is a barrel adjuster that will change the length of the cable housing. If the housing is longer the cable is shortened and visa-versa . when adjusted tighten the brass nut again, it is a lock nut made to hold the threaded barrel in place to keep it from loosening back off.
If the lever is sloppy with the cable adjusted correctly you may have a dirty cable housing or need to ad a small spring to the carb to help pull the cable towards the carb. The carb should be pull the cable far enough back that it has to be adjusted to keep it running. if this is not possible than the cable is to short or the housing is dirty and causing friction on the cable and not allowing it to move freely.