If that doesn't solve the problem rebuild the fuel pump. But make sure you get the kit from Mercury. It contains new style check valves that will fix that problem. It is talked about in Mercury's Service Information Advisory No. 2001-17. This is one of the very few actual ethanol problems that has been documented. What happens is the original check valves have rubber edges and over time ethanol causes them to curl up and not seal properly.
Fair Winds and Following Seas
Bill H. PTC USN Ret
Chesapeake, Va