C major | C major | C major | C majorC major | C major | C major | C majorEb major | Eb major | F major | F majorAb major | F major | C major | C major
C major occurs far more frequently than any other chord, and it's the only chord for the first two lines, where it's held for eight sequential measures. Because the songs stays on just one chord for so long, there's a sense of the singularity of "one good reason." Alternatively, there's a sense of the stalled nature of the exchange, with the narrator refusing to do anything until he receives this "one good reason."
This same sort of feature is also present in the coda, where the phrase "one good reason" is repeated over a C major chord.