I would check the fuel supply by following the below linked Mercury Service Advisory. It will show you how to test the fuel system using a vacuum gauge. This is a good way to find out if your bogging is due to fuel starvation. If the vacuum exceeds spec, then you need to figure out what component is causing it, eg, pluged vent, plugged screen in tank, leaking connections, etc.
http://www.marinepartsman.com/Mercur...2001/EN_17.PDF
If the vacuum test does not show any problems, then I would next check the ignition system. I like to use a Smartach meter to easily monitor secondary voltage while the motor is bogging. If the meter shows that voltage is dropping during bog, then you need to figure out what component is failing using various bench tests described in the shop manual. If the voltage is not dropping during bog, then I would be perplexed and I would be asking for advice on this excellent forum too.